- RES 4: 126.84 (2001 High)
- RES 4:126.20
- RES 3 : 125.79 (161.8% retracement of 121.83 and 115.55)
- RES2: 124.13 (2007 High)
PRICE: 124.11 @ 07:10 GMT
- SUP1: 123.95 (55 day H EMA)
- SUP2: 123.60 (Cloud Bottom)
- SUP3:123.10 (23.6% retracement of 118.87 and 124.45)
- SUP4: 122.40 (200 day HMA)
USD/JPY has broken major resistance 124.13 and made a high till 124.44. Intraday trend is bullish as long as support 123.50 holds.
Short term weakness only below 123.50 and any break below will drag the pair further down till 123.10/122.70.
On the upside the pair's minor resistance is around 124.30 and nay break above would extend gains till 125/125.60.
It is good to buy USD/JPY around 123.90 with SL around 123.48 for the TP of 125/125.55.
