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Short

USD/JPY struggles to close above 20 day MA, targets 122

FX:USDJPY   U.S. Dollar / Japanese Yen
274 0 3
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
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