- 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: 120.60 @11:15 GMT
- SUP 1 : 120.60 (7 day H EMA)
- SUP 2 : 120.25 (38.2% retracement of 121.32 and 118.60)
- SUP 3: 120 (200 DA HMA)
- SUP 1: 119.50 (38.2% retracement of 116.07 and 121.72)
USD/JPY has made a high of 121.32 yesterday and declined till 120.46 . It is currently trading at 120.82 trend is still bullish as long as support 119.95 holds.
Any break below 119.95 will drag the pair further down till 119.50/118.80 in short term.
The pair's minor support is around 120.20.
On the higher side major resistance is around 121.30 and any break above will take the pair to next target 121.75/122.30.
It is good to buy at dips around 120.60-65 with SL around 119.95 for the TP of 121.70/122.30
