Forex - Chart USD/JPY Update: Weak in range, watch the 118.00 level

Published at 05:40 (GMT) 17 Feb

USDJPY

17 Feb USD/JPY Daily

Steady above the 118.18 low though risk stays on the downside. Lower the 118.00 level to watch as break will trigger stronger pullback within the 2-1/2 mth triangle. Resistance now at 118.85 then 119.20/22 area. Above the latter needed to fade downside pressure. [P.L]

R5:: 120.48 * 11 Feb high
R4: 120.00 figure
R3: 119.62 10 Feb high
R2: 119.20/22 * 13, 6 Feb highs
R1: 118.85 intraday level

S1: 118.18 16 Feb low
S2: 118.00 * figure
S3: 117.60 5 Feb high
S4: 117.20/02 * intraday, 5 Feb lows
S5: 116.66 * 2 Feb low

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