USD/JPY: 121.06
Japanese Yen on uptrend wave – Buy in Dip
Short-Run
Market has tumbled with yesterday Fed and Yellen comments to the levels of 119.
Market still facing resistance at 122.50 zone , However , while still market trading above 120.00s levels more higher level is expected on the Mid-term ; now we have a trading range between 120/122.50 any successful breakout above 121.80 means more advance to expect.
On longer -Term view : we still the uptrend is expected to continue its advancing to more higher levels ( 125/128 )
The market as shown on the chart has retested the broken symmetrical triangle from yesterday move now in case market successfully close higher than 120.20 levels and the re-tested levels the continuation of the uptrend to test the highest levels achieved on the mid-term and even higher levels as mentioned would be the higher probability scenarios
Daily Trend: Up
Weekly Trend: Up
| Support | Resistence | |
| Level 1 | 120.20 | 121.20 |
| Level 2 | 119.35 | 122.50 |
| Level 3 | 118.20 | 123.60 |
