USD/JPY
120.98
Market maybe trying to bounce off from the Support zone of 120.89- 121.22 area in order for it to be at an area with more ‘bullishness’ hint.
Market does look like it favors a sideways move as of now a continuative move of its trend is long due and would be clearer once it peeks out and above the 121.30 area and heading higher. Prices are also way too far below from the three Exponential Moving Averages.
The above shown geometric pattern signals a probable upward trend continuation move from C to D toward its short term targets of 1.4937- 1.4983 but potentially as high as the D point.
| Support | Resistence | |
| Level 1 | 121.22 | 121.41 |
| Level 2 | 121.08 | 121.62 |
| Level 3 | 120.89 | 121.74 |
