•RES 4: 122 (Mar 10th high)
•RES 3: 120.81 (Apr 13th high)
•RES 2: 120.15 (200 day 4HMA)
•RES 1: 119.75 (55 DAY 4HEMA)
PRICE: 119.34 @ 05:22 GMT
•SUP 1: 118.70 (Apr 3rd low)
•SUP 2: 118.16 (61.8% retracement of 115.85 and 122.01)
•SUP 3 -116.85 (Feb 3rd low)
•SUP 4- 115.85 (Jan 16th low)
COMMENTARY:
USD/JPY has recovered once again after making a low 118.77. Overall trend is till bullish as long as support 118.16 holds. Any break below 118.16 will drag the pair further down till
On the upside minor resistance is around 119.25 and any break above would extend gains till 119.75/120.15.
Indicator (4 hour chart)
CCI (50)- Sell
Woodies CCI (14) – Sell
Ichimoku- Neutral
It is good to buy around 118.80 for the target of 120.15 with stop around 118.15.
•RES 3: 120.81 (Apr 13th high)
•RES 2: 120.15 (200 day 4HMA)
•RES 1: 119.75 (55 DAY 4HEMA)
PRICE: 119.34 @ 05:22 GMT
•SUP 1: 118.70 (Apr 3rd low)
•SUP 2: 118.16 (61.8% retracement of 115.85 and 122.01)
•SUP 3 -116.85 (Feb 3rd low)
•SUP 4- 115.85 (Jan 16th low)
COMMENTARY:
USD/JPY has recovered once again after making a low 118.77. Overall trend is till bullish as long as support 118.16 holds. Any break below 118.16 will drag the pair further down till
On the upside minor resistance is around 119.25 and any break above would extend gains till 119.75/120.15.
Indicator (4 hour chart)
CCI (50)- Sell
Woodies CCI (14) – Sell
Ichimoku- Neutral
It is good to buy around 118.80 for the target of 120.15 with stop around 118.15.