USD/JPY: 119.50
Japanese Yen on uptrend wave – Buy in Dip
Market now on the testing phase on the symmetrical triangle on the daily chart as shown . The market after retested the previous high of 121s levels back again to re-test the broken continuation pattern . 119.50 /119.00 represent support area if market successfully rebound from that levels and crossed 120.50 then a more advance is expected to reach a level higher than the previous peak ; but if market declined more and entered the pattern once again ( less probable scenario ) then a range market would be the title for the coming weeks , a range between 121.50s levels and 116.50
Daily Trend: Up
Weekly Trend: Up
| Support | Resistence | |
| Level 1 | 119.20 | 120.50 |
| Level 2 | 118.50 | 121.20 |
| Level 3 | 117.80 | 122.50 |
