- USD/JPY has made a high of 123.70 and declined from that level. It struggles to close above 20 day MA and any close above confirms short term bullishness, a jump till 124.40/125 is possible.
- On the downside minor support is around 122.75 (50% retracement of 123.70 and 121.97) and nay break below will drag the pair further down till 122.40/121.97.
It is good to sell on rallies around 123.30-35 with SL around 123.80 for the TP of 122
The material has been provided by InstaForex Company – www.instaforex.com