- 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.
R1: 121.38 (50 % Retracement Level)
R2: 121.63 (Aug 31st high)
R3:122.06 (61.8 % Retracement Level)
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