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Long

USD/JPY is trading above 200 day HMA,jump till 121.50 is possibl

FX:USDJPY   U.S. Dollar/Japanese Yen
172 0 1
RES 4: 122.05

RES 3: 121.50

RES 2: 121

RES 1: 120.50

PRICE: 120.16 @ 5:23 GMT            

SUP 1: 119.75 (200 day HMA )

SUP 2: 119.17 ( Ichimoku cloud top)

SUP 3: 118.20

SUP 4: 116.86

COMMENTARY:
USD/JPY             has broken major resistance 120 and confirms short term bullishness a jump till 121.50 cannot be ruled out.

On the upside minor resistance is around 120.35 and any break above would extend gains till 121/121.50.

Intraday bearish invalidation can happen only below 119.75 level.
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