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Short

USD/JPY is trading below cloud,decline till 122.75 is possible

FX:USDJPY   U.S. Dollar / Japanese Yen
297 0 5
USD/JPY             has made a high of 125.04 and is slightly retreating from that level. Any further bullishness can be seen only above 125 level.

On the upside minor resistance is around 124.40 any break above would extend gains till 125.04/125.70.

The pair’s support is at 123.50 and break below will drag the pair further down till 123.10/122.70.

It is good to sell on rallies around 123.90 with SL around 124.45 for the TP of 123.10/122.75.
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