- RES 4: 124.13
- RES 3: 123
- RES 2: 122.20
- RES 1: 121.20 (200 day HMA)
PRICE: 121.15 @ 12:57 GMT
- SUP 1: 120.48 (23.6% retracement of 115.55 and 122.01)
- SUP 2: 119.90
- SUP 3: 119
- SUP 4: 118.20
COMMENTARY:
USD/JPY has broken major support 120.50 and made a low till 119.28. Overall trend is weak as long as resistance 121.30 (200 day HMA) holds.
On the downside minor support is around 119.25 and nay break below will drag the pair further down till 118.60/118 in short term.
The pair's resistance is around 120.60 (support turned into resistance) and above it could pave way for next target to 121.30.
