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- RES 4: 126.84 (2001 High)
- RES 4:126.20
- RES 3 : 125.79 (161.8% retracement of 121.83 and 115.55)
- RES2: 125
PRICE: 124.53 @ 08:39 GMT
- SUP1: 124.25 (55 day H EMA)
- SUP2: 124.01 (Cloud Bottom)
- SUP3:123.10 (23.6% retracement of 118.87 and 124.45)
- SUP4: 122.84 (200 day HMA)
USD/JPY has made a high of 125.04 and is slightly retreating form that level. In daily chart CCI (50) has formed bearish divergence and this confirms intraday weakness, a decline till 123.55 cannot be ruled out.
On the upside any break above 125.04 would extend gains till 125.70.
It is good to sell around 124.75 with SL around 125.10 for the TP of 123.55.
