USDJPY
118.97
A downward breakout to the major support at 118s , as expected . that was the result of weak dollar and penetration of the pattern as we highlighted on our charts . So what to come next ? we would see a pull back to 119.50 or higher , however, any trading above 120.50 one more time would cancel the bearish scenario for the pair.
on the targets we are waiting to the pair at 116s as a first major support after the current level of 118 .
| Support | Resistence | |
| Level 1 | 117.60 | 119.50 |
| Level 2 | 116.40 | 120.50 |
| Level 3 | 115.27 | 121.80 |
