- RES4 :125
- RES3 : 124.50 (Jun 17th high)
- RES 2: 123.65 (61.8 % retracement of 124.43 and 122.47)
- RES 1:123.28 (200 day HMA)
PRICE: 122.895 @ 10:26 GMT
- SUP 1 :122.48 (20 day HMA)
- SUP 1: 122 (Jun 28th low)
- SUP 2 : 121.50 (61.8% retracement of 125.84 and 118.87)
- SUP 3: 121.25 (161.8% retracement of 122.47 and 124.36)
USD/JPY has made a low of 121.97 and jumped till 123 in European session. Overall trend is bullish as long as support 122 holds.
Intraday resistance is at 123 and break above will target 123.50/124.15
Major intraday support - 122 break below confirms further weakness, a decline till 121.27 (161.8% of 122.47 and 124.36) is possible.
It is good to buy at dips around 122.50 with SL around 122 for the TP of 123.60.
