USD/JPY short term Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
229 0 1
USD/JPY             has broken major support 120.50 and made a low till 119.28. Overall trend is weak as long as resistance 121.30 (200 day HMA ) holds.

On the downside minor support is around 119.25 and nay break below will drag the pair further down till 118.60/118 in short term.

The pair's resistance is around 120.60 (support turned into resistance) and above it could pave way for next target to 121.30.

CCI (50)- Sell
CCI (14)- Sell
CCI (14)-Sell

Recommendation: Sell USD/JPY             around 120.25-30, SL 121.31, Targets 119.30/118.25
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