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Friday, 2 October 2015

USD/JPY struggles to close above 120, good to buy at dips

  • USD/JPY has made a high of 120.26 yesterday and declined till 119.49 from that level. Sort term trend is till bullish as long as support 119.20 holds.
  • Any break below 119.20 will drag the pair further down till 118.80/118.60. The pair's minor support is around 119.50.
  • The minor resistance is around 120.10 and any indicative break above will take the pair till 120.75/121.25 in short term. 
It is good to buy at dips around 119.70 with SL around 119.20 for the TP of 120.74/121.25