Fxwirepro: Usd/jpy Breaks Major Support 119.60, Good to Sell on Rallies

• RES 4:121.30 ( SEP 10^TH HIGH)
• RES 3: 120.56 (Oct 6^th 2015)
• RES 2: 120.00 (200 day HMA)
• RES 1: 119.65 (7 day H EMA)

PRICE: 119.55 @11:23 GMT 

• SUP 1: 119.50 (38.2% retracement of 116.07 and 121.72)
• SUP 2: 119.20 (Sep 24^th 2015)
• SUP 3: 118.80 (Aug 9^th low)
• SUP 4: 118.50 (Sep 4^th 2015)

USD/JPY has broken major support 119.50 and declined till 119.41. it is currently trading at 119.47.

Any break below 119.50 will drag the pair down till 119.20/118.60 level.

On the higher side minor resistance is around 119.80 and break above targets 120.05/120.35.

It is good to sell on rallies around 119.80 with SL  around 120.05 for the TP of 119.20/118.60

The material has been provided by InstaForex Company – www.instaforex.com