USD/JPY sees high of 119.83 into Gotobi Tokyo fix, off later to 119.56

Support 1 - 119.55
Support 2 - 119.35
Support 3- 119.21
Support 4 - 119.10

Resistance 1 - 119.81
Resistance 2 - 119.98
Resistance 3 - 120.15
Resistance 4 - 120.55


Current Price- 119.60

Day's High - 119.81

Day's Low- 119.55

Commentary:

• Nikkei ended up 32.75 points or +0.17% on the day as the trading was thin and volatile. Early push to 19,775.45 followed by ratchet down to 19,542.22, bounce later. USD/JPY saw a high of 119.83 into Gotobi Tokyo fix, off later to 119.56. Bids seen from around 119.50, offers pre-120.00, large $2.462 bln 120 expiries.
  
  
• Currently USDJPY is trading above the EMA of 50 days and sustaining above the 119.10 level for the last 1 month. Apart from this RSI and Stachastics also support the curent movement. The pair is range bound and giving the trading opportunity for 100 pips as major support falls at 119.10 and upper side if sustain above the 121.50 then only can see the levels of 122.50 and so on