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: USD/CAD downside pressure builds, key support level in focus
Ethereum Holds Firm Above $3,100 Despite Dip – Fresh Breakout to $3,600+ Looming as Bulls Defend Key Support
FxWirePro: NZD/USD sustains gains as uptrend remains strong
AUDJPY Rangebound: Bulls Hold 102, Watch for Breakout Above 102.85
FxWirePro- Major European Indices
FxWirePro- Major US Indices
FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
GBPJPY Eyes 208: Pound Pulls Back, Bulls Guard 206
FxWirePro: USD/ZAR outlook weaker on renewed downside pressure
EURJPY Carves Triple Bottom at 180.20 – Bulls Ready to Storm 182-183 as Breakout Momentum Builds
FxWirePro: USD/ CNY gains some upside momentum but still bearish
FxWirePro- Major European Indices
CAD/JPY Rockets on Blowout Canadian Jobs Surprise – Bulls Target 113-115 as BoC Cut Odds Collapse
FxWirePro- Woodies Pivot(Major)
FxWirePro: EUR/AUD set To for bigger drop, but close below key fibo needed
GBPJPY Bulls on Guard: Buy the Dip at 206 as Support Holds Firm – Target 208 in Sight 



