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Sterling’s Six-Week Streak Snaps: GBPJPY Slumps Toward 210.00 as Bearish Momentum Intensifies 
- RES 4: 122
- RES 4: 121.75 (28th Aug high)
- RES 3:121
- RES 2: 120.75 (61.8% retracement of 121.75 and 119.21)
PRICE: 120.88 @12:38 GMT
- SUP 1 : 120.49 (7 day H EMA)
- SUP 2 : 120.25 (20 day HMA)
- SUP 1: 119.50 (Cloud Top)
- SUP 2: 118.78 (Sep 7th low)
USD/JPY has recovered till 120.78 at the time of writing after making a low of made a low of 118.85 yesterday . Overall trend is bullish as long as support 119.80 holds.
On the higher side major resistance is around 120.70 and any break above would extend gains till 121.70/122 in short term.
The pair's short term support is around 120.20 and break below targets 119.80/119.50. Overall bullish invalidation only below 118.
It is good to buy at dips around 120.25-30 with SL around 119.50 for the TP of 121.70
