Fxwirepro: Usd/jpy Approaching Support Level at 123.52, Buy Deals are recommended Above 123.55

  • Strong support can be seen at 123.52 (July 29th lows) , a break below this level will expose the pair to next support level at 123.37 handle.
  • Major resistance can be seen at 123.60 (61.8% Retracement Level)  , a break above this level will open the door to 124.00 handle.

Recommendation: We prefer long above 123.40, targets 123.80, 124.20, SL 122.80.

Resistance Levels

R1: 123.60 (61.8% Retracement Level) 

R2: 124.00 (38.2% Retracement Level) 

R3: 124.24 (23.6% Retracement Level)

Support Levels

S1:123.52 (July 29th lows)

S2:123.37 (July 29th lows)

S3: 123.00(July 27th lows)

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