USD/JPY faces strong support at 118.6, jump till 120 is possible
Harmonic pattern formed- Bullish Gartley pattern
Potential Reversal Zone (PRZ) -119.15
The pair has retreated after making a high of 120.98 yesterday. It’s major support is around 118.60 (Sep 4th low) and any further weakness only below that level.
Break below 118.60 will drag the pair further down till 118.20/117.90.
The intraday minor resistance is around 119.40 and any indicative break above will take the pair till 119.77/120.02/120.50.
It is good to buy around 119.10 with SL around 118.59 for the TP of 119.80/120.35
Potential Reversal Zone (PRZ) -119.15
The pair has retreated after making a high of 120.98 yesterday. It’s major support is around 118.60 (Sep 4th low) and any further weakness only below that level.
Break below 118.60 will drag the pair further down till 118.20/117.90.
The intraday minor resistance is around 119.40 and any indicative break above will take the pair till 119.77/120.02/120.50.
It is good to buy around 119.10 with SL around 118.59 for the TP of 119.80/120.35
