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- RES 4: 126.88 (161.8% retracement of 124.43 and 120.45)
- RES 3 : 125.85 (jun 5th high)
- RES 2: 125.30 (Aug 12th high)
- RES 1:125
PRICE: 124.33 @10:34 GMT
- SUP1 : 124.30 (7 day 4 HMA)
- SUP2 :124.10 (23.6% retracement of 120.40 and 125.27)
- SUP 3 : 123.50 ( Jul 31st low)
- SUP 4 :123 (Jul 27th low)
Potential Reversal Zone- 125
USD/JPY has broken minor trend line support at 124.30 which confirms short term weakness , a decline till 123.50 cannot be ruled out.
The minor resistance is around 124.60 and any break above would extend gains till 125/125.85.
It is good to sell around 124.30 with SL around 124.65 for the TP of 123.51
