USD/JPY struggles to close above 125 level, good to buy at dips
USD/JPY has broken the short term resistance 125 and jumped till 125.27. It is facing resistance around 125.30 (trend line joining 123.71 and 124.46) and also 161.8% retracement of 124.46 and 123.10.
Any break above 125.30 would extend gains till 125.65/125.84 in short term.
On the downside minor support is around 124.70 and nay break below targets 124.50/124
Bullish invalidation only below 123.95.
It is good to buy at dips around 124.45-50 with SL around 123.95 for the TP of 125.85.
Any break above 125.30 would extend gains till 125.65/125.84 in short term.
On the downside minor support is around 124.70 and nay break below targets 124.50/124
Bullish invalidation only below 123.95.
It is good to buy at dips around 124.45-50 with SL around 123.95 for the TP of 125.85.