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- 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: 124.34 @11:08 GMT
- SUP1 : 124 (7 day 4 HEMA)
- SUP2 :123.60 (Kijun-Sen)
- SUP 3 : 123.25( 200 day 4 HMA)
- SUP 4 :122.90 (Jul 14th low)
USD/JPY has recovered after making a low of 123.52 yesterday. Intra day trend is bullish as long as support 123.50.
Any break below 123.50 will drag the pair further down till 123.20/122.90.
Short term bullish invalidation only below 122.90.
On the higher side minor resistance is around 124.20 and break above would extend gains till 124.50/125/125.85.
It is good to buy at dips around 123.80-85 with SL around 123.45 for the TP of 125/125.85.
