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- RES 4: 125.84 (Jun 5th high)
- RES 3 :125
- RES 2 : 124.50 (Jun 17th high)
- RES 1: 123.65 (61.8 % retracement of 124.43 and 122.47)
PRICE: 122.90 @ 10:31 GMT
- SUP 1 :122.40 (Jun 18th low)
- SUP 1: 122 (Jun 28th low)
- SUP 2 : 121.50 (61.8% retracement of 125.84 and 118.87)
- SUP 3: 121.25 (161.8% retracement of 122.47 and 124.36)
USD/JPY has made a high of 123.70 and declined from that level. It struggles to close above 20 day MA and any close above confirms short term bullishness, a jump till 124.40/125 is possible.
On the downside minor support is around 122.75 (50% retracement of 123.70 and 121.97) and nay break below will drag the pair further down till 122.40/121.97.
It is good to sell on rallies around 123.30-35 with SL around 123.80 for the TP of 122.
