- USD/JPY has retreated till 120.78 today at the time of writing after making a high of 121.50. Short term trend is bullish as long as support 120.68 holds.
- On the higher side minor resistance is around 121.50 and break above targets 122/123.10.
- The pair’s minor support is around 120.50 and break below will drag the pair till 120.10/119.60.
- Overall trend reversal only below 119.95.
It is good to buy at dips around 120.95-121 with SL around 120.50 for the TP of 122/123.
The material has been provided by InstaForex Company – www.instaforex.com