- RES 4: 126.88 (161.8% retracement of 124.43 and 120.45)
- RES 3 : 125.85 (jun 5th high)
- RES 2:125
- RES 1: 124.40 (Jun 24th high)
PRICE: 123.35 @10:20 GMT
- SUP 1 : 123.25( 200 day 4 HMA)
- SUP 2 :122.90 (Jul 14th low)
- SUP 3: 122.40
- SUP 4: 121.98 (61.8% retracement of 120.40 and 124.44)
USD/JPY has not able to hold 124 level and is currently trading at 1235.53. Intraday trend is weak as long as resistance 124.20 holds.
Any further bullishness can be seen only above that level.
On the lower side minor support are at 123.20 and any break below will drag the pair further down till 122.90/122.40.
The pair’s resistance is at 124.20 and above that will take the pair to next level at 124.50/125.
It is good to sell on rallies around 123.60-65 with SL around 124.20 for the TP of 122.90/122.40
The material has been provided by InstaForex Company – www.instaforex.com