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- RES 4: 120.75 (61.8% retracement of 121.75 and 119.21)
- RES 3: 120.25 (200 DAY HMA)
- RES 2: 119.80 (20 day HMA)
- RES 1 : 119.31 (7 day 4 HEMA)
PRICE: 119.06 @09:58 GMT
- SUP 1 :118.40 (25th Aug low)
- SUP 2: 118
- SUP 3: 116.07 (Aug 24th 2015)
- SUP 4: 115.55
USD/JPY has broken major trend line support around 119.60 (trend line joining 118.43 and 119.21), declined till 118. is currently trading at 119.15. Overall trend is still weak as long as resistance 120.20 holds
On the higher side minor resistance is around 120.20 and break above would extend gains till 120.70/121 in short term.
Short term bullishness only above 120.75.
It is good to sell on rallies around 119.65-70 with SL around 120.20 for the TP of 119/118.55.
