USD/JPY struggles to close above 124,decline till 123 is possibl
Candlestick pattern: Doji with next red candle confirming short term weakness.
USD/JPY has made a high of 124.57 and started retreating from that level. Short term trend is weak as long as resistance 125 holds.
On the higher side minor resistance is around 124.60 and any break above will target 125/125.80 in short term.
Intraday trend reversal only above 124.60.
The pair’s intraday support is around 123.80 and below it will reach till 123.30/122.90.
It is good to sell o n rallies around 124.10 with SL around 124.65 for the TP of 123.
USD/JPY has made a high of 124.57 and started retreating from that level. Short term trend is weak as long as resistance 125 holds.
On the higher side minor resistance is around 124.60 and any break above will target 125/125.80 in short term.
Intraday trend reversal only above 124.60.
The pair’s intraday support is around 123.80 and below it will reach till 123.30/122.90.
It is good to sell o n rallies around 124.10 with SL around 124.65 for the TP of 123.