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- RES 4:121.30 ( SEP 10TH HIGH)
- RES 3: 120.56 (Oct 6th 2015)
- RES 2: 120.00 (200 day HMA)
- RES 1: 119.70 (Trendline resistance)
PRICE: 119.61 @11:40 GMT
- SUP 1: 118.50 (Sep 4th 2015)
- SUP2 : 118
- SUP3 : 117.40 (161.8% retracement of 11860 and 120.48)
- SUP 4: 116.93 (161.8% retracement of 118.60 and 121.30)
USD/JPY has broken major trend line resistance around 119.70 (trend line joining 121.22 and 120.51) and this confirms minor trend reversal, a jump till 120.60/121 is possible
On the downside major weakness only below 119.20 and break below targets 118.60.
The pair's minor resistance is around 119.80 and break above targets 120.35/120.50/121.
It is good to buy to buy at dips around 119.60-65 with SL around 119.20 for the TP of 120.30/120.60
