- RES 4:126.20
- RES 3 : 125.79 (161.8% retracement of 121.83 and 115.55)
- RES2: 125
- RES 1: 124.30 (55 day H EMA)
PRICE: 124.23 @ 07:32 GMT
- SUP 1: 123.70 (Jun 2nd low)
- SUP 2:123.20 (200 day HMA)
- SUP 3: 122.70 (May 27th low)
- SUP 4: 121.95 (50% retracement of 118.87 and 125.04)
USD/JPY has retreated till 123.75 and started to recover from this level. Overall trend is bullish as long as support 123.50 holds.
On the downside any break below will drag the pair further down till 123.10/122.70.
The pair's is facing resistance around 124.60 and break above would extend gains till 125.05/125.60.
It is good to buy at declines around 124.30 with SL around 123.50 for the TP of 125.05/125.60
