The cross managed to close with 100 pips up at the previous week. The cross managed to gain every alternative week over the last 7 weeks. This week, we expect lower levels on a weekly basis. All the intervals favor to bears. The cross fell and closed below 200Wema. The cross has been forming a base between 127.37 and 127.40. We can expect this is going to be a strong base in the coming weeks. This view will be erased in case the price closes below 127.40 on a weekly closing basis. The weekly resistance is seen at 129.60 200Wema and 131.86 multi-week high. The cross has strong support at 122.75 200Wsma and 122.5050Wsma. A weekly closure below 127.40 enabled bears to challenge towards 125.00 and 122.75. Today, the cross opened on a bearish note. The Japanese tertiary industry activity index gave positive readings in February, stood at 0.3% from the previous 0.7%. Readings were above expectations. The intraday support is found at 128.30 and 128.15. Below, 127.75 are going to act as the trend-decided levels. On the higher side, resistance is seen at 128.80, 129.10 20Dsma, and 129.35 61.8the fib level. We recommend selling below 128.30 with the targets at 128.15, 127.90, and 127.75. In case the price zapped to previous day's high, we recommend buying above 128.80 with small targets at 129.00, 129.10, and 129.35.
