USD/JPY formed triple bottom around 118,jump till 120 expected
• RES 4: 120.50
• RES 3: 120
• RES 2: 119.70
• RES 1: 119.40 (20 day 4 HMA )
PRICE: 119.28 @ 4:18 GMT
• SUP 1: 119
• SUP 2: 118.69
• SUP 3: 118
• SUP 4: 116.86
COMMENTARY:
USD/JPY has once again recovered after making a low of 118.32 and overall trend is bullish as long as support 118 holds.
On the upside minor resistance is around 119.40 (20 day HMA) and any break above would extend gains till 119.70/120.
Intraday bullish invalidation can happen only 118 level It is good to buy at dips around 118.70 for the target of 120/120.40 .
• RES 3: 120
• RES 2: 119.70
• RES 1: 119.40 (20 day 4 HMA )
PRICE: 119.28 @ 4:18 GMT
• SUP 1: 119
• SUP 2: 118.69
• SUP 3: 118
• SUP 4: 116.86
COMMENTARY:
USD/JPY has once again recovered after making a low of 118.32 and overall trend is bullish as long as support 118 holds.
On the upside minor resistance is around 119.40 (20 day HMA) and any break above would extend gains till 119.70/120.
Intraday bullish invalidation can happen only 118 level It is good to buy at dips around 118.70 for the target of 120/120.40 .