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USD/JPY breaks major support 119, decline till 118 is expected

Thursday, March 26, 2015 6:52 AM UTC

RES 4: 121.50
RES 3: 120
RES 2: 119.70)
RES 1: 119.40 (20 day )

PRICE: 118.78 @ 6:44 GMT

SUP 1: 119.25
SUP 2: 118.69
SUP 3: 118
SUP 4: 116.86

COMMENTARY:

USD/JPY has broken major support 119 and confirms short term weakness a decline till 118 cannot be ruled out.

On the upside minor resistance is around 119.40 (20 day HMA) and any break above would extend gains till 119.70/120.

Intraday bearish invalidation can happen only above 120 level.

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USD/JPY breaks major support 119, decline till 118 is expected

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