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- RES 4 : 125.85 (jun 5th high)
- RES 3:125
- RES 2: 124.36 (Jun 24th high)
- RES 1 : 123.71 (2nd jul high)
PRICE: 123.35 @ 10:36 GMT
- SUP 1 : 123.37 ( 200 day 4 HMA)
- SUP 1: 122.60 (20 day 4 HEMA)
- SUP 2 :122.05 (Kijun-Sen)
- SUP 3: 121.60 (61.8% retracement of 120.40 and 123.71)
USD/JPY has recovered after making a low of 123.17 in Asian session . Overall trend is bullish as long as support 122.90 holds.
On the downside any break below 122.90 will drag the pair further down till 122.40/122 in short term.
The minor resistance on the higher side is at 123.71 and any indicative break above would extend gains till 124.40/125/125.85.
Bullish invalidation only below 122.
It is good to buy at dips around 123.40-45 with SL around 122.90 for the TP of 124.40/125
