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Short

USD/JPY trades well below 124, decline till 122.90 is possible

FX:USDJPY   U.S. Dollar/Japanese Yen
234 0 3
Intraday trend – Bearish

Short term trend – Bullish

USD/JPY             has broken short term support 123.80 which confirms short term weakness, a decline till 122.90 cannot be ruled out.

On the downside minor support is around 123.60 and break below targets 123.30/122.90.

It will be facing resistance around 124.10 and break above would extend gains till 124.50/125.

Bullish invalidation only below 122.90 (Jul 14th low)

It is good to sell on rallies around 123.80 with SL around 124.20 for the TP of 122.90.
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