22/07 – USDJPY outlook eyes on 124.75


22 July, AtoZForex.com, Milano — Technically Weekly/Daily USDJPY outlook eyes are on the 124.75 level. (5:51GMT)

NEWS THAT CAN HAVE AN IMPACT:

  • U.S. EXISTING HOME SALES (15:00 GMT)

As per my yesterday’s outlook, 124.10 made his job as First resistance. USD/JPY found bearish corrective impulse after a test above 124.40.

Calendar of the week.

FRIDAY
U.S. New Home Sales (15:00 GMT)

USDJPY outlook Chart 1: Weekly/Daily USDJPY eyes on 124.75 (Click on the image to enlarge)

My S/R setup is still the following: 

First Resistance: 124.10 (H4 fibo expansion, monthly trendlines)

if First resistance’s breakout then ->
-> Second resistance: 124.75 (17th and 24th of June’s spikes)

if breakout then ->
-> Third resistance: 125.80 (5th of June’s spike, weekly trendline)

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

First support: 123.25 (H4 trendline) 

if First support’s breakout then ->
-> Second support: 122.60 (H4 trendline) 

if breakout then ->
-> Third support: 121.95 (H4 fibo expansion, H4 trendline) 

if breakout then ->
-> Fourth support: 121.50 (weekly trendlines)

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