It's nearly show time for the central bank double bill
It's double bubble today from the mischief makers in central bank world so here's some additional levels to complement Greg's
Up
- 120.60/70 has been a long time lover of resistance, then minor support. It's too close to the current price right now though. Keep an eye on it to become support if we do move through though
- 120.95 is the 200 dma on my chart, but I'm not going to argue with Greg over 3 pips
- 121.00 will have it's own action, as big figures normally do, then 121.30 has been another multi point player
- 121.50/60 has marked the top of the recent range following the China blowout
- 121.79 is the 61.8 fib of that blowout and the 100 dma sits at 121.86
- I'm not seeing anything of real significance until 122.45/60, where we tried to base after the fall from 125.69 in June. Again though, look at your big figures and 122.00 to hold something if tested
Down
- Feb 2005 support line has been playing both S&R, most recently in the last drop to the low 120's. That's at 120.15 today.
- We then have the 55, 200 & 100 H4 ma's close together from 120.09 down to 119.95
- At 119.62 we have another S&R level that tends to play out in more sedate moves. The 55 wma pokes its nose just above that at 119.68
- It's a bit messy under there with the series of lows Greg highlighted so after 119.00 it'll be 118.79 that shines on my chart as yet another level that's been busy since back to Nov 2014
- 118.04 was another longer term level and where we stopped in the last move south from 120.00
- Under there we could find quite a hole until the low 117's
USDJPY daily chart
Best of luck to all of you trading one or t'other or both events, and stay safe
