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USD/JPY is trading above 200 day HMA, jump till 121.50 is possible

Tuesday, March 31, 2015 5:35 AM UTC

RES 4: 122.05
RES 3: 121.50
RES 2: 121
RES 1: 120.50

PRICE: 120.16 @ 5:23 GMT

SUP 1: 119.75 (200 day HMA)
SUP 2: 119.17 (Ichimoku cloud top)
SUP 3: 118.20
SUP 4: 116.86

COMMENTARY:

USD/JPY has broken major resistance 120 and confirms short term bullishness a jump till 121.50 cannot be ruled out.

On the upside minor resistance is around 120.35 and any break above would extend gains till 121/121.50.

Intraday bearish invalidation can happen only below 119.75 level.

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USD/JPY is trading above 200 day HMA, jump till 121.50 is possible

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