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USD/JPY retreated after making a high of 121.19. It is currently trading at 120.32. Intraday trend is still bullish as long as support 119.60 holds.
- On the downside any break below 119.60 will drag the pair till 119.20/118.75
- Overall bullish invalidation only below 118.
- The pair's resistance is around 120.50 and any indicative break above would extend gains till 120.75/121.25/121.70
It is good to buy at dips around 120.20 with SL around 119.60 for the TP of 121.20/121.70
