- RES 4: 120.75 (61.8% retracement of 121.75 and 119.21)
- RES 3: 120.35 (55 DAY 4H EMA)
- RES 2: 119.75 (20 day HMA)
- RES 1 : 119.30 (7 day 4 HEMA)
PRICE: 119.35 @11:25 GMT
- SUP 1 :118.40 (25th Aug low)
- SUP 2: 118
- SUP 3: 116.07 (Aug 24th 2015)
- SUP 4: 115.55
USD/JPY has made a low of 118.60 on Friday and slightly recovered till 119.58 in today morning. Overall trend is bullish as long as support 118.40 holds.
On the higher side minor resistance is around 119.60 and any break above would extend gains till 120.20/120.75 in short term.
The pair’s short term support is around 118.75 and break below targets 118.40/118. Overall bullish invalidation only below Aug 24th 2015 low.
It is good to buy at dips around 119.15-20 with SL around 118.40 for the TP of 120.20/120.75
The material has been provided by InstaForex Company – www.instaforex.com