Technicals

Add as a preferred source on Google

USD/JPY struggles to break major resistance 124.15,decline till 122.45 is possible

USD/JPY has made a high of 123.78 after breaking short term trend line resistance 123.40. Short term trend is weak as long as resistance 124.15 holds. Break above 124.15 will take the pair further up till 125.85 in short…

1 min read
USD/JPY struggles to break major resistance 124.15,decline till 122.45 is possible
Image from the original EconoTimes article

Read the original article

  • USD/JPY has made a high of 123.78 after breaking short term trend line resistance 123.40. Short term trend is weak as long as resistance 124.15 holds.

  • Break above 124.15 will take the pair further up till 125.85 in short term.

  • The major support is around 122.90 and break below will drag the pair further down till 122.45/121.50.

It is good to sell on rallies around 123.60-65 with SL around 124.15 for the TP of 122.90/122.45  

 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560