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Long

USD/JPY faces strong support at 118.60, good to buy at dips

FX:USDJPY   U.S. Dollar/Japanese Yen
452 0 7
USD/JPY             has made a low of 118.68 on Friday and recovered from that level. It is currently trading at 119.99 .Intraday trend is till bullish as long as support 119.20 holds.

Overall bullish invalidation only below 118.60

Any break below 119.20 will drag the pair further down till 118.80/118.60. The pair's minor support is around 119.50.

The minor resistance is around 120.40 and any indicative break above will take the pair till 120.75/121.25 in short term.

It is good to buy at dips around 119.90-95 with SL around 119.20 for the TP of 120.74/121.25
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