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USD/JPY trade Idea

  • USD/JPY has made a low of 120.64 and recovered till 121.72. It is currently trading at 121.07. Overall trend is weak as long as support 120.50 holds. 

  • On the downside any break below 120.50 confirms further weakness , a decline till 120/119.70 cannot be ruled out . 

  • The pair's minor resistance is around 121.20 and any break above targets 121.75/122.35. 

It is good to buy at dips around 120.95-121 with SL around 120.50 for the TP of 121.75/122 

Resistance

R1- 121.75

R2-122.35

R3- 123

Support

S1-120.50

S2-120

S3-119.70

 

  • Market Data
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