• The Greenback stronger on mounting speculations of a Fed hike before the end of the year after US CPI beats expectation 
  
  
• Better than expected China GDP data boosts risk appetite, further buoying the Greenback
  
  
• China GDP came in at 6.9% Y/Y beating expectations of 6.8%, but below the previous of 7% Y/Y 
  
  
• JPY complex was better bid post-China data, USD/JPY traded 119.15/60, EUR/JPY 135.49/135.88 and GBP/JPY 183.78/184.57
  
  
• USD/JPY rallied 40 pips on a knee jerk reaction, hit session highs at 119.62, where it found strong resistance
  
  
• The pair has edged lower and is currently trading at 119.39, with techs pointing to further correction
  
  
• USD/JPY is currenty trading around 119.32, pivot point, with immediate targets at 118.80 for the bears and 120.88 the 200 DMA for the bulls
  
  
• Immediate resistance comes in at 119.62 (session high & 4H cloud top), ahead of 119.65 (10 DMA), while daily Tenkan at 119.20 is immediate support
  
  
  

Recommendation: Good to sell rallies around 119.45, SL: 119.65, TP: 119.15

Resistance Levels:

R1: 119.62 (session high & 4H cloud top)

R2:119.65 (10 DMA)

R3: 119.86 (20 DMA)

Support Levels:

S1: 119.20 (daily Tenkan)

S2: 119.14 (session low)

S3: 119.00 (psychological level)