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Short

USD/JPY struggles to close above 124, targets 122.40

FX:USDJPY   U.S. Dollar / Japanese Yen
245 0 4
USD/JPY             has not able to hold 124 level and is currently trading at 1235.53. Intra day trend is weak as long as resistance 124.20 holds.

Any further bullishness can be seen only above that level.

On the lower side minor support are at 123.20 and any break below will drag the pair further down till 122.90/122.40.

The pair's resistance is at 124.20 and above that will take the pair to next level at 124.50/125.

Indicators (1 hour chart)

CCI (50)- Sell

Ichimloku- Sell

ADX - Sell

it is good to sell on rallies around 123.60-65 with SL around 124.20 for the TP of 122.90/122.45

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