Technicals

USD/JPY faces strong resistance around 121.50, break above targets 122.40/123

USD/JPY faces strong trend line resistance around 121.50 (trend line joining 121.22 and 121.48) and any break above confirms further bullishness, jump till 122.40 is possible. On the downside minor support is around 120.…

By Lis HowellOct 30, 2015, 5:31 AM UTC

Updated Oct 30, 2015, 6:02 AM UTC1 min read

USD/JPY faces strong resistance around 121.50, break above targets 122.40/123 — Image from the original EconoTimes article

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USD/JPY faces strong trend line resistance around 121.50 (trend line joining 121.22 and 121.48) and any break above confirms further bullishness, jump till 122.40 is possible.

On the downside minor support is around 120.98 and break below will drag the pair till 120.50/120.30/119.95 in short term.
Further weakness can be seen only below 119.60.

It is good to buy only above 121.50 with SL around 120.98 for the TP of 122.40/123.10

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