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- RES 4: 121.75 (28th aug high)
- RES 3:121.30 ( SEP 10TH HIGH)
- RES 2: 120.56 (Oct 6th 2015)
- RES 1: 120.15 (200 day 4 H EMA)
PRICE: 119.85 @11:28 GMT
- SUP 1: 119.50 (38.2% retracement of 116.07 and 121.72)
- SUP 2: 119.20 (Sep 24th 2015)
- SUP 3: 118.80 (Aug 9th low)
- SUP 4: 118.50 (Sep 4th 2015)
Pattern formed - Descending triangle
USD/JPY is facing minor support at 119.75 and any break below will drag the pair further down till 119.20/118.60 in short term.
Intraday bullishness can be seen only above 120.25 and break above 120.60/121.30.
Overall bullishness can be seen only above 121.30
It is good to sell on rallies around 120.25-30 with SL around 120.60 for the TP of 119.60/119.21
