RES 4: 122.01 (Mar 10th high)
RES 3: 121.20 (Mar 20th high)
RES 2: 120.50 (Apr 7th high)
RES 1: 119.96 (Kijun-Sen)
PRICE: 119.84 @ 5:58 GMT
SUP 1: 119.60 (200 DAY HMA)
SUP 2: 119.30 (Cloud bottom)
SUP 3: 118.70 (Apr 3rd low)
SUP 4: 118.30 (Mar 26th low)
COMMENTARY:
USD/JPY has retreated after making a high of 120.42.Overall trend is weak if the pair breaks 119.60 (200 day HMA) and any break below will drag the pair further down till 119.30/118.69 in short term.
On the upside minor resistance is around 119.96 and any break above would extend gains till 120.50/121.18.
It is good to sell on rallies around 120 for the target of 118.70 with stop around 120.50.
RES 3: 121.20 (Mar 20th high)
RES 2: 120.50 (Apr 7th high)
RES 1: 119.96 (Kijun-Sen)
PRICE: 119.84 @ 5:58 GMT
SUP 1: 119.60 (200 DAY HMA)
SUP 2: 119.30 (Cloud bottom)
SUP 3: 118.70 (Apr 3rd low)
SUP 4: 118.30 (Mar 26th low)
COMMENTARY:
USD/JPY has retreated after making a high of 120.42.Overall trend is weak if the pair breaks 119.60 (200 day HMA) and any break below will drag the pair further down till 119.30/118.69 in short term.
On the upside minor resistance is around 119.96 and any break above would extend gains till 120.50/121.18.
It is good to sell on rallies around 120 for the target of 118.70 with stop around 120.50.