Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

USD/JPY breaks major support 120.60, targets 118.60

  • USD/JPY has broken major support 120.60 (200 day MA) and is trading well below that level. Overall trend is weak a decline till 119.40/118.60 cannot be ruled out.
     
  • On the higher side minor resistance is around 120.95 and nay break above would extend gains till 121.30/121.65 is possible.
     
  • Short term bearish invalidation only below 121.65 level.

It is good to sell on rallies around 120.45-50 with SL around 121.65 for the TP of 119.40/118.60

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.