- RES 4: 126.88 (161.8% retracement of 124.43 and 120.45)
- RES 3 : 125.85 (jun 5th high)
- RES 2: 125.30 (Aug 12th high)
- RES 1:125
PRICE: 124 @10:48 GMT
- SUP 1 : 123.75 (200 day 4 HMA)
- SUP 2: 123.50 ( Jul 31st low)
- SUP 3 :123 (Jul 27th low)
- SUP 4: 122.25 (61.8% retracement of 120.40 and 125.27)
Potential Reversal Zone- 125
USD/JPY has once again made a low of 123.68 and slightly recovered from that level.
Intraday trend is still weak as long as resistance 124.60 holds.
The minor intraday resistance is around 124.20 and break above targets 124.65/125.
On the downside major support is around 123.50 and break below targets 123/122.70.
It is good to sell at 124-124.10 with SL around 124.60 for the TP of 123/122.70
The material has been provided by InstaForex Company – www.instaforex.com