USDJPY 2016-01-14

USD/JPY

117.85

market managed to obtain some rebound correction from 116.70 low while market managed to jump above first resistance at 118.05-10

market now showing ability for trading zone between 117.25 – 119.50 while first resistance lay at 118.40

main resistance for the current drop wave is at 120.50 where as long as market holding below this zone the downtrend wave will sustain, above 120.50 a new uptrend wave may start

	Support	Resistence
Level 1	117.30	118.40
Level 2	116.70	119.25
Level 3	115.60-116.20	119.70