Major JPY Action Bias — Extremely Bullish Setups in NZD/JPY, AUD/JPY and CAD/JPY 
AUDJPY Extremely Bullish Above 113: Strong AUD Fuels Fresh Rally – Buy Dips at 113 Targeting 115 
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure 
NZDJPY Extremely Bullish Above 94: Broad NZD Buying Fuels Fresh Upside – Buy Dips at 93.70 Targeting 95 
FxWirePro- Major Pair levels and bias summary 
GBPUSD, AUDUSD & NZDUSD Turn Extremely Bullish: Strong Positive Momentum Drives Major Pair Action Bias 
FxWirePro: EUR/AUD bears maintain upper hand 
FxWirePro: USD/CAD falls after BoC rate hold and weak U.S. producer inflation 
GBPJPY Bullish on Consolidation: Holds Above 216 After 218 Top – Buy Dips at 217 Targeting 220 
FxWirePro: AUD/USD remains buoyant, looks to extend gains 
FxWirePro:EUR/NZD dips below lower range, bearish bias increases 
FxWirePro: USD/ZAR downside pressure builds, key support level in focus 
EUR/USD Holds Bullish Tone Despite Pullback from Yesterday’s High 
FxWirePro: GBP/NZD gains some upside momentum but still bearish 
- RES4: 124.13 (2007 High)
- RES3:123.41 (138.2% retracement of 122.01 and 118.32)
- RES2: 122.05 (Mar 3rd high)
- RES1 121.49 (161.8% retracement of 120.49 and 118.87)
PRICE: 120.90 @ 05:43 GMT
- SUP1: 120.50 (20 day HMA)
- SUP2: 119.77 (200 day HMA)
- SUP 3: 119.50 (Cloud Bottom )
- SUP 4 118.87 (May 14th High)
COMMENTARY:
USD/JPY has broken short term resistance 120.80 and this confirms short term bullishness, a jump till 122 cannot be ruled out.
Short term bullish invalidation level-118.18. Any break below 118.18 will drag the pair further down till 116.85/115.90 in short term.
Indicator (1 Hours chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
It is good to buy USD/JPY around 120.90 with stop around 120.48 for the target of 122.
