USD/JPY Vulnerable Below 124.47/57 Levels
FXTechstrategy Team | Aug 04, 2015 08:57AM ET
With the USD/JPY pair continuing to maintain below its key resistance at 124.57 level, a move lower should occur. Support resides at the 123.50 level with a turn below here aiming at the 123.00 level. A break will target the 122.50 level. Further out, support comes in at the 122.00 level where a violation will aim at the 121.50 level. Conversely, resistance comes in at the 124.47/57 levels where a break will target the 125.00 level. Below here if seen will aim at the 125.50 level followed by the 126.00 level. On the whole, USD/JPY remains exposed to the downside on corrective weakness.
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