On the downside 119.15 (20 day ) will be acting as minor support and any break below will drag the pair further down till 118.67/118.20.But overall downside will be limited to 118.
The break above 122.01 will extend gains to 124.13 key resistance next.
Indicators (Weekly chart)
(50) - Buy
(14) - Buy
Recommendation: Buy USD/JPY around 119.25-30 SL 118, Targets 122.05/124.13.