Usd/jpy Breaks Major Support 118.60, Taregets 117.40

• 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: 118.34 @10:36 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 breaks major support 118.60 which confirms major weakness , a decline till 116.20 cannot be ruled out .

On the higher major resistance is around 119.20 and break above targets 119.60/119.80.

Bearish invalidation only above 120.10 level.

It is good to sell on rallies around 118.45-50 with SL around 19.20 for the TP of 117/116.20

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