Fxwirepro: Usd/jpy Struggles to Close Above 120, 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: 119.30 (Trendline resistance)

PRICE: 118.98 @11:21 GMT 

• SUP 1: 118.50 (Sep 4^th 2015)
• SUP2 : 118
• SUP3 : 117.40 (161.8% retracement of 11860 and 120.48)
• SUP 4: 116.93 (161.8% retracement of 118.60 and 121.30)

USD/JPY has not able to break above trend line resistance 119.30, it confirms intraday weakness , a decline till 118 is possible .

Any break above 119.30 will take the pair  till 119.80/120.05.

It is good to sell on rallies around 119.45-50 with SL around 120 for the TP of 118.01

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