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Short

USD/JPY struggles to break above 124.50, targets 122.50

FX:USDJPY   U.S. Dollar / Japanese Yen
274 0 9
USD/JPY             has once again retreated after making a high of 124.36. The pair has formed a temporary top around 124.50 and any further upside can be seen only above this level.

The minor resistance is around 123.90 (20 day HMA ) and break above would take the pair till 124.36/124.50.

Break below 123.40 confirms extreme weakness and takes to next target at 122.45.

It is good to sell around 123.60 with SL around 123.91 for the TP of 122.55
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