USD/JPY is approaching to break resistance level at 120.20. The US dollar has weakened against Japanese yen, after market turmoil in global economy. The pair is set to decline towards 119.70 levels and later towards 119.20 levels in the short term.
- Currently the pair is trading at 123.95 levels, pullback around 120.40 should be viewed as advantage for selling opportunities.
- Strong support can be seen at 123.77 (23.6 % Retracement Level), a break below this level will expose the pair to next support level at 123.50 handle.
- Major resistance can be seen at 124.20 (61.8 % Retracement Level), a break above this level will open the door to 124.67 (Aug 19th high).
Recommendation: We prefer short below 120.20, targets 119.70, 119.40, SL 121.20.
Resistance Levels
R1: 120.20 (61.8 % Retracement Level)
R2: 124.40 (Aug 25th high)
R3: 121.15(Aug 24th high)
Support Levels
S1: 119.40 (50 % Retracement Level)
S2: 119.13 (38.2 % Retracement Level)
S3: 118.69 (23.6 % Retracement Level)


FxWirePro: GBP/NZD gains some upside momentum but still bearish
GBPUSD, AUDUSD & NZDUSD Turn Extremely Bullish: Strong Positive Momentum Drives Major Pair Action Bias
FxWirePro:EUR/NZD dips below lower range, bearish bias increases
FxWirePro: AUD/USD remains buoyant, looks to extend gains
JPY Action Bias: Extremely Bullish Surge Ignites Across NZD, GBP & AUD
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align
FxWirePro: USD/CAD falls after BoC rate hold and weak U.S. producer inflation
FxWirePro: AUD/USD edges lower, but bullish outlook persists
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure
FxWirePro- Woodies pivot (Major)
FxWirePro- Major Crypto levels and bias summary
FxWirePro: NZD/USD trades in narrow range ,outlook bullish
GBPJPY Bullish Surge: Strong Pound Ignites Fresh Upside on Fed-BOE Policy Divergence as All EMAs Align
FxWirePro: USD/JPY uptrend loses steam, remains on bullish path
FxWirePro- Woodies pivot (Major) 



