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- RES 4: 127.93 (161.8% retracement of 125.85 and 120.40)
- RES 3: 126.88 (161.8% retracement of 124.43 and 120.45)
- RES 2 : 125.85 (jun 5th high)
- RES 1:125
PRICE: 124.69 @10:08 GMT
- SUP1 : 124.65 (20 day 4 HMA)
- SUP2 :124.50 (resistance turned into support)
- SUP 3 : 123.78 ( Aug 4th low)
- SUP 4 :123.50 (Jul 31st low)
Potential Reversal Zone- 123.95
USD/JPY has made a temporary top around 125 and retreated from that level. Overall trend is till bullish as long as short term support 124 holds.
It has made a low of 124.09 on Friday and has started to recover from that level.
On the downside major support is around 124 (20 day MA) and any break below will target 123.50/123 in short term.
Major intraday resistance 125 and intraday support -124.
Any break of 125 will extend gains till 125.85.
It is good to buy around 124.35-40 with SL around 123.95 for the Tp of 125.84
