USD/JPY has rebounded strongly after hitting support level at 121.40 to trade around 120.61 levels, currently the pair is approaching to test support level at 121.41. The support level at 120.80 is set to hold the bears from falling further below and bring a rebound towards upside. Therefore, it is good to go long on this pair on dips.
- Levels around 121.00 should be viewed as advantage for buying opportunities, As US dollar is expected to strengthen against the Japanese Yen.
- Strong support can be seen at 120.82, a break below this level will expose the pair to next support level at 120.20 levels.
- Major resistance can be seen at 122.00, a break above this level will open the door to 122.50 levels.
Recommendation: We prefer long above 121.00, targets 121.80, 122.40, SL 120.50.
Resistance Levels
R1: 122.00 (Daily high)
R2: 122.22 (23.6 % Retracement Level)
R3: 122.88 (July10th high)
Support Levels
S1: 121.43 (38.2 % Retracement Level)
S2: 120.82 (50 % Retracement Level)
S3:120.20 (61.8 % Retracement Level)


FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/NZD downtrend loses steam, remains on bearish path
GBPJPY Technical Check: Is the Dragon Running Out of Fire?
Ethereum Technical Outlook: ETH Braces for Support as Bulls Eye the USD 2,200 Buy Zone
FxWirePro: GBP/NZD dips towards 2.2800 level , vulnerable to more downside
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Crypto levels and bias summary
FxWirePro: NZD/USD loses momentum but bullish setup remains
FxWirePro: USD/CNY bears maintain upper hand
FxWirePro= Major European Indices
FxWirePro- Major Crypto levels and bias summary
FxWirePro: AUD/USD soften slightly but trend is still bullish
FxWirePro: USD/CNY hits fresh three-year low, scope for further downside
FxWirePro: USD/CAD gains some momentum as weak Canadian jobs data weighs on loonie 



