- RES 4 : 122.35
- RES 3: 121.75 (61.8% retracement of 125.27 and 116.07)
- RES 2: 120.75 (61.8% retracement of 121.75 and 119.21)
- RES 1 : 120.32 (7 day 4 HEMA)
PRICE: 120.37 @10:02 GMT?
- SUP 1:119.56 (38.2% retracement of 116.07 and 121.72)
- SUP 2 :118.40 (25th Aug low)
- SUP 3: 118
- SUP 4: 116.07 (Aug 24th 2015)
USD/JPY has recovered till 120.68 after making a low of 119.21. Overall trend is still weak as long as resistance 121 holds.
Any break above 120.75 will take the pair further up till 121.15/121.40 in short term.
The minor support is around 119.80 and break below extend losses till 119.20/118.25.
Bearish invalidation only above 121.75.
It is good to sell on rallies around 120.70 with SL around ?121.15 for the TP of 119.30
The material has been provided by InstaForex Company – www.instaforex.com