- RES 4: 122.35 (161.8% retracement of 120.97 and 119.04)
- RES 3: 122
- RES 2: 121.72 (28TH AUG HIGH)
- RES1:121.30 ( SEP 10TH HIGH)
PRICE: 120.85 @10:56 GMT
- SUP 1: 120.57 (Tenken-Sen)
- SUP 2: 120.25 (20 day HMA)
- SUP 1: 119.50 (38.2% retracement of 116.07 and 121.72)
- SUP 2: 118.80 (Aug 9th low)
USD/JPY has broken major trend line resistance at 120.70 and went up to 121.10. Intraday trend is bullish as long as support 120.50 holds
Any break below 120.50 will take the pair further down till 120/119.50.
On the upper side short term resistance is around 121.30 and any break above targets 121.75/122
It is good to buy at dips 120.70 -75 with SL around 120.30 for the TP of 121.30/121.75
The material has been provided by InstaForex Company – www.instaforex.com