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USD/JPY not able close above 120, decline till 118 is expected

  • RES 4: 121.50

  • RES 3: 121

  • RES 2: 120.68(200 day HMA)

  • RES 1: 120.36 (Cloud top)

      PRICE: 119.70 @ 07:02 GMT 

  • SUP 1: 119.25

  • SUP 2: 118.69

  • SUP 3: 118

  • SUP 4: 116.86

COMMENTARY:

USD/JPY is trading around 119.63 with negative bias for Intraday. It is trading well below 200 day HMA, and tenken-sen.

On the upside major intraday resistance is around 120 and any break above would extend gains till 120.37 (Cloud top)/ 120.88 in short term.

The pair's major support 119.20 and below that level will drag the pair further down till 118.69/118.

 

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