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- RES 4: 121.72 (28TH AUG HIGH)
- RES 3:121.30 ( SEP 10TH HIGH)
- RES 2: 120.75 (61.8% retracement of 121.75 and 119.21)
- RES 1: 120.23 (20 day 4 HMA)
PRICE: 120.31 @10:55 GMT
- SUP 1: 119.50 (38.2% retracement of 116.07 and 121.72)
- SUP 2: 118.80 (Aug 9th low)
- SUP3 : 118.60 (Sep 9th low)
- SUP 4: 118.20 (61.8% retracement of 116.07 and 121.72)
USD/JPY breaks short term trend line resistance 120 (trend line joining 120397 and 120.14) and a slight jump till 120.95 is possible.
Further trend reversal only above 121.30.
Any break above 121.30 will take the pair to next target 121.70/122.
Intraday weakness can be seen only below 119.60 and break below drag the pair further down till 119/118.60.
It is good to buy at dips around 120-120.10 with SL around 119.60 for the TP of 120.95.
