09/06 – USDJPY outlook eyes on 125

Technically daily USDJPY outlook eyes on 125 level, while the pair is oversold (5:42GMT)


Chart 1: Daily USDJPY, USDJPY outlook Chart 1: Daily USDJPY eyes on 125 (Click on the image to enlarge)

My weekly S/R setup is still the following:

First support: 124.49 (fibo expansion, trendlines), I think that, technically speaking, a pullback recovering 125 area is likely to happen.

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Chart 2: H4 USDJPY, USDJPY outlook Chart 2: H4 USDJPY (Click on the image to enlarge)

if breakout then ->
-> Second support: 124.10 (converging weekly trendlines)

First resistance: 126.275 (fibo expansion)

if breakout then ->
-> Second resistance: 126.66 (fibo expansion)

if breakout then ->
-> Third resistance: 128.22 (fibo expansion)

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