- USD/JPY bottomed around 119.70 region in the late-Asian trades on dampened risk appetite
- The major has recovered most losses as the greenback pared early losses against its major competitors amid easing risk-off moods
- USD/JPY is currently trading at 120.15, with immediate resistance at 120.27 (Session High Sep 21) ahead of 120.36 (Kijun-Sen)
- On the downside supports are located at 119.70 (Session Low Sep 21), breaks below could target 119.08 (Triangle Base From 118.25)
Recommendation: Good to buy dips around 120.00, SL: 119.70, TP: 120.40Resistance Levels: R1: 120.27 (Session High Sep 21)R2: 120.36 (Kijun-Sen)R3: 120.44 (4H cloud top)Support Levels:S1: 119.70 (Session Low Sep 21)S2: 119.08 (Triangle Base From 118.25)S3: 119.05 (Daily Low Sep 18)
The material has been provided by InstaForex Company – www.instaforex.com