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- USD/JPY testing lows by 123.50 in the mid-Asian trading session
- Friday's lack lustre home sales data from the US weighing on USD, dragging USD/JPY lower
- Currently USD/JPY is trading at 123.49 after hitting fresh weekly lows of 123.43
- Hourly price action dips into cloud, daily lows can offer good buying oppurtunities
- Markets focus on the key US durable goods data today which may set the tone for Wednesday's FOMC statement
R1: 124.19 (Daily High Jul 23)
R2: 124.48 (Daily High Jul 21)
R3: 124.57 (76.4% Fibo 125.86-120.41)
Support Levels:
S1: 123.60 (Daily Low Jul 24)
S2: 123.57 (Daily Low Jul 22)
S3: 123.52 (23.6% Fibo 120.41-124.48)
