Time to check out the charts
USDJPY
UP
- 122.00 is the obvious first point but we're too close. Watch it on a break if we return to it though
- Maybe look for a bit of noise around 122.25/35 but otherwise 122.45/55 played a stronger role on both sides of the fence when we had the first run up to 125+
- 122.70 and 122.85/90 look minor levels in that May-Aug period
- 123.00 naturally comes next with 123.15/20 and 123.30 following
- 123.55/60 & 123.75 will probably be the furthest we'll see today unless we get something out of this world
Down
- The broken 61.8 fib of the Aug China stumble comes in at 121.79 and it's been support during the European session today. The 100 dma sits at 121.70 also. Again, it's too close but factor it in if we move away and then come back
- 121.60 is support intraday
- 121.50 is stronger support, as we saw through the latter part of Oct, and further back
- 121.30 has been an old level we tried but failed to get over significantly
- 121.00 will have the usual big figure stuff going on, including the 200 dma at 121.07 and the 55 H4 ma at 120.95, and there could be more at 120.80
- 120.65/75 was an old friend of ours through this year and is probably in range to do something again on a big, but not shocking miss
- 120.25/30 is going to stretch things and the 55 dma sits at 120.18
USDJPY daily chart