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- RES 4:121.30 ( SEP 10TH HIGH)
- RES 3: 120.80 (200 day 4 hma)
- RES 2: 120.50 (61.8 % retracement of 121.30 and 119.25)
- RES 1: 120.10 (55 day 4 H EMA)
PRICE: 120.03 @11:30 GMT
- SUP 1: 119.50 (38.2% retracement of 116.07 and 121.72)
- SUP 2: 119.20 (Sep 24th 2015)
- SUP 3: 118.80 (Aug 9th low)
- SUP 4: 118.50 (Sep 4th 2015)
USD/JPY has recovered till 120.32 after making a low of 119.27 on Tuesday. Short term trend is still bullish as long as support 119.60 holds.
Any break below 119.60 will drag the pair further down till 119.20/118.80. The pair's minor support is around 119.50.
The minor resistance is around 120.10 and any indicative break above will take the pair till 120.75/121.25 in short term.
It is good to buy at dips around 119.70-75 with SL around 119.20 for the TP of 120.74/121.25
