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CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
- RES 4: 127.93 (161.8% retracement of 125.85 and 120.40)
- RES 3: 126.88 (161.8% retracement of 124.43 and 120.45)
- RES 2 : 125.85 (jun 5th high)
- RES 1:125
PRICE: 124.53 @10:24 GMT
- SUP1 : 124.40 (7 day 4 HMA)
- SUP2 :124.10 (23.6% retracement of 120.40 and 125.27)
- SUP 3 : 123.50 ( Jul 31st low)
- SUP 4 :123 (Jul 27th low)
Potential Reversal Zone- 123.50
USD/JPY has broken the short term resistance 125 and jumped till 125.27. It is facing resistance around 125.30 (trend line joining 123.71 and 124.46) and also 161.8% retracement of 124.46 and 123.10.
Any break above 125.30 would extend gains till 125.65/125.84 in short term.
On the downside minor support is around 124.70 and nay break below targets 124.50/124
Bullish invalidation only below 123.50.
It is good to buy at dips around 124.25-30 with SL around 123.50 for the TP of 125.85.
