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- USD/JPY has made a low of 120.64 and recovered till 121.72. It is currently trading at 121.07. Overall trend is weak as long as support 120.50 holds.
- On the downside any break below 120.50 confirms further weakness , a decline till 120/119.70 cannot be ruled out .
- The pair's minor resistance is around 121.20 and any break above targets 121.75/122.35.
It is good to buy at dips around 120.95-121 with SL around 120.50 for the TP of 121.75/122
Resistance
R1- 121.75
R2-122.35
R3- 123
Support
S1-120.50
S2-120
S3-119.70
