•RES4 120.80 (Mar 10th High)
•RES 2 :120.50 (May 5th high)
•RES 2 119.80 (200 day HMA)
•RES1:119.25 (20 day HMA)
PRICE: 119.17 @ 05:16 GMT
•SUP1: 119 (May 7th low)
•SUP2: 118.50 (Apr 30th low)
•SUP 3: 118.19 (61.8% retracement of 115.84 and 122.01 )
•SUP 4 116.86 (Feb 3rd low)
COMMENTARY:
USD/JPY has broken short term support 119.50 and this confirms short term weakness , a decline till 118.50 cannot be ruled out
Short term bullish invalidation level-118.18. Any break below 118.18 will drag the pair further down till 116.85/115.90 in short term.
Intraday bullishness can be seen only above 119.80.
Indicator (1 Hours chart)
CCI (50) - Sell
CCI (14) – Sell
Ichimoku- Sell
It is good to sell on rallies around 119.35-40 for the target of 118.52 with stop around 119.81
•RES 2 :120.50 (May 5th high)
•RES 2 119.80 (200 day HMA)
•RES1:119.25 (20 day HMA)
PRICE: 119.17 @ 05:16 GMT
•SUP1: 119 (May 7th low)
•SUP2: 118.50 (Apr 30th low)
•SUP 3: 118.19 (61.8% retracement of 115.84 and 122.01 )
•SUP 4 116.86 (Feb 3rd low)
COMMENTARY:
USD/JPY has broken short term support 119.50 and this confirms short term weakness , a decline till 118.50 cannot be ruled out
Short term bullish invalidation level-118.18. Any break below 118.18 will drag the pair further down till 116.85/115.90 in short term.
Intraday bullishness can be seen only above 119.80.
Indicator (1 Hours chart)
CCI (50) - Sell
CCI (14) – Sell
Ichimoku- Sell
It is good to sell on rallies around 119.35-40 for the target of 118.52 with stop around 119.81