Published at 00:20 (GMT) 22 May
22 May USD/JPY Daily
Backed off the 121.48 high to consolidate sharp rally fromthe 118.89 low. However, the upside stays in focus and renewed strength will see scope to the 121.85/122.03 highs. Recent highs at 120.84 and 120.51 now support. Would take break of the 120.00 level and 119.93 to weaken. [P.L]
R5:: 122.03 ** 10 Mar high R4: 121.85 * 8 Dec high
R3: 121.67 12 Mar high
R2: 121.48 * 20 May high
R1: 121.26 intraday level
S1: 120.84 13 Apr high
S2: 120.51 5 May high
S3: 119.93 * 15 May high
S4: 119.50/45 intraday level
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