Thursday, October 15, 2026

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FxWirePro: USD/JPY faces strong support around 120.50, good to buy at dips

USD/JPY has retreated till 120.78 today at the time of writing after making a high of 121.50. Short term trend is bullish as long as support 120.68 holds. On the higher side minor resistance is around 121.50 and break ab…

By Lis Howell
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FxWirePro: USD/JPY faces strong support around 120.50, good to buy at dips
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USD/JPY has retreated till 120.78 today at the time of writing after making a high of 121.50. Short term trend is bullish as long as support 120.68 holds.

  • On the higher side minor resistance is around 121.50 and break above targets 122/123.10.
     
  • The pair's minor support is around 120.50 and break below will drag the pair till 120.10/119.60.
     
  • Overall trend reversal only below 119.95.

It is good to buy at dips around 120.95-121 with SL around 120.50 for the TP of 122/123.

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