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- RES 4: 121.75 (28th Aug high)
- RES 3:121
- RES 2: 120.75 (61.8% retracement of 121.75 and 119.21)
- RES 1: 120.25 (200 day HMA)
PRICE: 119.93 @11:27 GMT
- SUP 1: 119.50 (20 day HMA)
- SUP 2: 118.78 (Sep 7th low)
- SUP 3 :118.40 (25th Aug low)
- SUP 4: 118
USD/JPY has made a low of 118.85 today and recovered till 120.22. Overall trend is bullish as long as support 118.80 holds.
On the higher side major resistance is around 120.25 and any break above would extend gains till 120.75 /121.70 in short term.
The pair's short term support is around 118.75 and break below targets 118.40/118. Overall bullish invalidation only below Aug 24th 2015 low.
It is good to buy at dips around 119.50-60 with SL around 118.75 for the TP of 121.70
