USD/JPY breaks tend line support, decline till 122 is possible
USD/JPY has retreated after making a high of 124.43. Short term trend is weak as long as resistance 123.80 holds.
The minor resistance are 123.30/123.80/124.15.
Overall reversal only above 124.55 (61.8% retracement of 125.84 and 122.45).
On the downside major support is around 122.35 and break below will drag the pair to next target 122.05/121.30.
It is good to sell on rallies around 123.30 with SL around 123.81 for the TP of 122.40/122.05
The minor resistance are 123.30/123.80/124.15.
Overall reversal only above 124.55 (61.8% retracement of 125.84 and 122.45).
On the downside major support is around 122.35 and break below will drag the pair to next target 122.05/121.30.
It is good to sell on rallies around 123.30 with SL around 123.81 for the TP of 122.40/122.05