Fxwirepro: Usd/jpy Approaching Resistance Level at 121.38, Buy Deal are recommended Around 120.80

  • Levels around 120.80 should be taken as advantage for buying opportunities, As US dollar is expected to strengthen shortly against the Japanese Yen.
  • Major resistance can be seen at 121.63, a break above this level will open the door to 122 levels.

Recommendation: We prefer long  above 120.80, targets 121.50, 120.80, SL 120.10.

Resistance Levels

R1: 121.38 (50 % Retracement Level)

R2: 121.63 (Aug 31st high)

R3:122.06 (61.8 % Retracement Level)

Support Levels

S1: 120.88 (Aug 31st lows)

S2: 120.59 (38.2 % Retracement Level)

S3:120.30 (Aug 27th lows)

The material has been provided by InstaForex Company – www.instaforex.com