FxWirePro

USD/JPY breaks minor support 122.80, decline till 122 is possibl

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
277 views
7
Potential reversal Zone -122.80 ( trend line joining 120.25 and 122.22)

The pair has broken this level and declined till 122.62 and is currently trading around 122.75

Intraday trend is positive as long as resistance 123.20 holds.

Any break above 123.20 will take the pair to new level 123.75/124.15.

On the downside support is at 122.48 and break below targets 122/121.50.

It is good to sell on rallies around 122.85-90 with SL around 123.21 for the TP of 122/121.50.

Comments

thanks for your good idea .
Reply
uj posted an extremely 4hr bearish candle... so if that remains.. uj deep down 121.5 possible.. and if that candle taken out which is at 12303...then that would be alarm sign for bears to stay away.. so far it is below trendline and 4hr 50 sma.. so sellers has edge..
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out