Technicals

Add as a preferred source on Google

FxWirePro: USD/JPY trades in narrow range between 123.77-125.30, good to buy at dips

USD/JPY has consolidated between 124.60 -124.05 yesterday retreated till 123.77. It is currently trading at 124.44. Overall trend is bullish as long as support 123.50 holds. Bullish invalidation only below 123.50. Any br…

Updated 1 min read
FxWirePro: USD/JPY trades in narrow range between 123.77-125.30, good to buy at dips
Image from the original EconoTimes article

Read the original article

  • USD/JPY has consolidated between 124.60 -124.05 yesterday retreated till 123.77. It  is currently trading at 124.44. Overall trend is bullish as long as support 123.50 holds.

  • Bullish invalidation only below 123.50. Any break below 123.50 will drag the pair further down till 123/122.40.

  • The minor supports are 124/123.50.

  • The pair's minor resistance is around 124.60 and any break above would extend gains till 125.30/125.85.

It is good to buy at dips around 124.20 with SL around 123.50 for the TP of 125.85

 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560