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- RES 4: 124.15 (Jun 11th high)
- RES 4:123.68 (200 day HMA)
- RES 3 : 123.32 (Jun 10th high)
- RES1: 122.82 (7 day H EMA)
PRICE: 122.65 @ 11:01 GMT
- SUP 1 : 122.40 (Jun 10th low)
- SUP 2: 122
- SUP 1 : 121.25 (61.8% retracement of 125.84 and 118.87)
- SUP 2: 120.80
USD/JPY has retreated after making a high of 124.43. Short term trend is weak as long as resistance 123.70 holds.
The minor resistance are 123.30/123.80/124.15.
Overall reversal only above 124.55 (61.8% retracement of 125.84 and 122.45).
On the downside major support is around 122.35 and break below will drag the pair to next target 122.05/121.30.
It is good to sell on rallies around 123 with SL around 123.70 for the TP of 122/121.30.
