AUDJPY Surges Above 112.50 on Aussie Momentum – Bullish EMAs Flash Green but Sell Rallies into 111.30 
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- RES 4: 121.72 (28TH AUG HIGH)
- RES 3:121.30 ( SEP 10TH HIGH)
- RES 2: 120.75 (61.8% retracement of 121.75 and 119.21)
- RES 1: 120.15 (20 day 4 HMA)
PRICE: 1119.95 @11:54 GMT
- SUP 1: 119.50 (38.2% retracement of 116.07 and 121.72)
- SUP 2: 118.80 (Aug 9th low)
- SUP3 : 118.60 (Sep 9th low)
- SUP 4: 118.20 (61.8% retracement of 116.07 and 121.72)
Harmonic pattern formed: Bearish Butterfly pattern
Potential Reversal Zone (PRZ)-122.60
USD/JPY has recovered till 120.65 after making a low of 119.71 yesterday. It is currently trading at 120.49.
Short term trend is still bullish as long as support 119.60 holds and break below drag the pair further down till 119/118.60.
On the higher side short term resistance is around 120.75 and any break above targets 121.30/122.
It is good to buy at dips around 119.70 with SL around 119 for the TP of 121.30/122
