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- RES4: 124.13 (2007 High)
- RES3:123.41 (138.2% retracement of 122.01 and 118.32)
- RES2: 122.05 (Mar 3rd high)
- RES1 121.49 (161.8% retracement of 120.49 and 118.87)
PRICE: 121.47 @ 10:42 GMT
- SUP1: 120.89 (cloud top)
- SUP2: 120.26 (200 day HMA)
- SUP 3: 119.50
- SUP 4 118.87 (May 14th High)
USD/JPY has made a high of 121.75 and slightly retreated from that level. Overall trend is bullish as long as support 120.50 holds
On the downside below 120.50 it can reach till 119.80/119.50 in short term.
It is good to buy at dips around 121.30 with stop around 120.48 for the target of 123.40/124.10.
