- 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 Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
FxWirePro- Woodies pivot (Major)
Swiss Strength Persists: USDCHF Slumps Below 0.7800 Amid Broad Greenback Sell-Off
FxWirePro: GBP/NZD downtrend loses steam, remains on bearish path
FxWirePro: USD/ZAR slips as rand gains on weaker dollar
FxWirePro: EUR/AUD momentum strongly bearish despite pause in losses
NZDJPY Technical Outlook: Selling the Rallies as Bearish Momentum Consolidates
AUDJPY Relief Rally: A Golden Opportunity for the Bears?
FxWirePro- Major Pair levels and bias summary
FxWirePro= Major European Indices
FxWirePro: GBP/AUD edged higher but bearish outlook remains
FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro: GBP/USD rises as UK political uncertainty fails to dent pound strength
FxWirePro: GBP/AUD edged higher, set to stay on back foot 



