- RES 4 : 123.03 (61.8% retracement of 125.84 and 121.30)
- RES 3: 122.53 (55 day 4 H EMA)
- RES 2: 121.95 (20 day 4 HMA)
- RES 1: 121.30 (7 day 4 H EMA)
PRICE: 121.42 @ 10:56 GMT
- SUP 1: 121.25 (161.8% retracement of 122.47 and 124.36)
- SUP 2 :121
- SUP 3: 120.60 (61.8% retracement of 115.55 and 125.84)
- SUP 4: 120
USD/JPY has taken support near trend line support and recovered from that level till 121.10. Any further weakness can be seen only below 120.30 level.
The pair's minor resistance is around 121.40 and any break above would extend gains till 122/122.60.
On the downside any break below 120.30 will drag the pair further down till 119.50/118.55.
It is good to buy at dips around 121-121.05 with SL around 120.30 for the TP of 122/122.60
