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- 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: 124.70 @10:26 GMT
- SUP1 : 124.75 (7 day 4 HEMA)
- SUP2 :124.50 (resistance turned into support)
- SUP 3 : 123.78 ( Aug 4th low)
- SUP 4 :123.50 (Jul 31st low)
Potential Reversal Zone- 124.50
USD/JPY has broken handle high of 124.50 and jumped till 125. Intraday trend is bullish as long as support 124.50 holds.
Any break below 124.40 will drag the pair further down till 123.78/123.50 in short term.
On the higher side any break above 125 will target 125.85 in short term.
It is good to buy at dips around 124.40 with SL around 123.95 for the TP of 125.85.
