USD/JPY takes support near 200 HMA,jump till 120.50 is possible

FX:USDJPY   U.S. Dollar / Japanese Yen
224 6 1
•RES4 122.01 (Mar 10th High)

•RES 2 :121.18

•RES 2 120.80 (13th Apr             high)

•RES1:120.50 (May 5th high)

PRICE: 119.90 @ 05:25 GMT            
•SUP1: 119.60 (200 day HMA )

•SUP 2: 119.19 (May 6th             low)

•SUP 3 118.48 (Previous week low)

•SUP 4 -116.85 (Feb 3rd low)


USD/JPY             has formed temporary top around 120.50 and is retreating from that level. The major resistance is around 120.50 and any further bullishness can be seen only above that level.

Intraday trend reversal level below 119.50.
Short term bullish invalidation level-118.50. Any break below 118.16 will drag the pair further down till 116.85/115.90 in short term.

Indicator (1 Hours chart)

CCI (50) - Sell

CCI (14) – Buy

Ichimoku- Neutral

It is good to buy around 119.75-80 for the target of 120.49 with stop around 119.49

Do you mean sell?
Sir good to buy at dips
FxWirePro FxWirePro
@sniper extremely sorry. SL 119.49 Target 120.49
Sniper FxWirePro
It is good to buy around 119.75-80 for the target of 119.49 with stop around 120.49 ?
+1 Reply
:) thank you,
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