- RES 4: 125
- RES 3 : 124.50 (Cloud bottom)
- RES 2: 123.80 (200 day 4 hma)
- RES 1:123.25 (7 day 4H EMA)
PRICE: 122.94 @10:14 GMT
- SUP 3 :123 (Jul 27th low)
- SUP 4: 122.25 (61.8% retracement of 120.40 and 125.27)
- SUP3: 121.90
- SUP 4 : 120.40 (Jul 8th low)
Potential Reversal Zone- 125
The pair has made low of 123.32 and closed at 123.35 yesterday. It has broken major support in Asian session as Asian markets extend their free fall for the second straight session. The demand for safe haven assets like gold, yen, long-end treasuries.
USD/JPY is trading near major trend line support 122.70 (trend line joining 105.18 and 120.45) and any break below will drag the pair further down till 122.20/121.95.
On the higher side major intraday resistance is around 123.40 and any break above would extend gains till 123.75/124/124.20.
It is good to buy at dips around 122.80-85 with SL around 122.20 for the TP of 123.75/124.15.


FxWirePro- Major Pair levels and bias summary
FxWirePro- Major European Indices
Narrow Range Drama in EUR/GBP: Bullish Bias Intact Above 0.8645
FxWirePro: GBP/USD bounce extends on Trump pivot, Ukraine deal hopes.
FxWirePro: USD/CAD extends fall, eyes 1.3700 level
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure
FxWirePro: USD/CAD downside pressure builds, key support level in focus
AUDJPY Dips Met With Buyers: Bullish While 107 Holds Firm
FxWirePro- Major Pair levels and bias summary
FxWirePro:GBP/NZD gains some upside momentum but still bearish
FxWirePro: USD/ZAR outlook weaker on renewed downside pressure
NZDJPY Bulls Hold the Line: Buy the Dip to 95?
FxWirePro: NZD/USD retreats slightly but trend is still bullish
FxWirePro: EUR/NZD extends fall, vulnerable to more downside
FxWirePro: AUD/USD bulls undeterred, eyes 0.6900 level
USD/CHF Pares Gains After 4.4% GDP Blowout: Sell Rallies to 0.7860 Target 



