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Short

USD/JPY struggles to close above 20 day MA, targets 121.30

FX:USDJPY   U.S. Dollar/Japanese Yen
330 1 5
USD/JPY             has recovered till 122.91 from the low of 121.83 and overall trend is still weak as long as trend line resistance 123.50 holds.

On the down side minor support is around 122.40 any break below will target 121.85/121.30.

The pair’s minor resistance is around 123.15 (20 day MA) and any indicative break above would extend gains till 123.50/123.80.

It is good to sell on rallies around 122.90 with SL around 123.50 for the TP of 121.85/121.25
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