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- RES 4: 122.01 (Mar 10th high)
- RES 3: 121.20 (Mar 20th high)
- RES 2: 120.35 (31st Mar high)
- RES 1: 119.96 (200 day 4HMA)
PRICE: 119.55 @ 5:11 GMT
- SUP 1: 119.09 (Kijun-Sen)
- SUP 2: 118.30 (26th Mar low)
- SUP 3: 116.85 (Mar 2nd low)
- SUP 4: 115.55 (Dec 16th high)
COMMENTARY:
USD/JPY has taken support near 118.70 and recovered from that level. Short term trend is bullish as long as support 118.30 holds.
On the upside minor resistance is around 119.96 and any break above would extend gains till 120.35/121.18.
It is good to buy around 119.30 for the target of 121.18 with stop around 118.30.
