USD/JPY struggles to close above 200 day HMA, targets 121.60

FX:USDJPY   U.S. Dollar / Japanese Yen
339 0 5
USD/JPY             drops sharply till 122.47 and recovered till 123.20. Intraday trend is weak as long as 123.30 (200 day HMA ) is intact

On the downside break below 122.40 will target 121.54 ( 61.8% retracement of 125.84 and 118.88).

The pair’s minor resistance is around 123.30 and break above will target 123.80/124.15 level.

Bearish invalidation only above 124.50

It is good to sell on rallies around 122.85-90 with SL of 123.35 for the TP of 122.40/121.60.
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