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FxWirePro: USD/JPY faces strong resistance around 121.50, break above targets 122.40

Wednesday, November 4, 2015 11:50 AM UTC

RES 4: 123.10
RES 3: 122
RES 2: 121.75 (28^th Aug 2015)
RES 1:121.30 ( SEP 10^TH HIGH)

PRICE: 121.22 @11:46 GMT

SUP1 :120.78 (200 day HMA)
SUP 2 120.16 (38.2 % retracement of 118.05 and 121.50)
SUP 2 : 119.60
SUP 3: 119

USD/JPY faces strong trend line resistance around 121.50 and any break above confirms further bullishness, jump till 122.40 is possible.

On the downside minor support is around 120.75 and break below will drag the pair till 120.50/120.30/119.95 in short term.

Further weakness can be seen only below 119.60.

It is good to buy only above 121.50 with SL around 120.98 for the TP of 122.40/123.10

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FxWirePro: USD/JPY faces strong resistance around 121.50, break above targets 122.40

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