- RES 4: 123 (161.8% retracement of 121.72 and 118.05)
- RES 3: 122
- RES 2: 121.75 (28th Aug 2015)
- RES 1:121.30 ( SEP 10TH HIGH)
PRICE: 120.99 @11:43 GMT
- SUP 1: 120.80 (Kijun-Sen)
- SUP 2: 120.50 (20 day 4HMA)
- SUP 3 : 120 (200 day 4 HMA)
- SUP 4 : 119.60
USD/JPY has retreated till 120.78 today at the time of writing after making a high of 121.50. Short term trend is bullish as long as support 120.68 holds.
On the higher side minor resistance is around 121.50 and break above targets 122/123.10.
The pair's minor support is around 120.50 and break below will drag the pair till 120.10/119.60.
Overall trend reversal only below 119.95.
It is good to buy at dips around 120.95-121 with SL around 120.50 for the TP of 122/123.
