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USD/JPY has broken minor trend line support around 120.50 (trend line joining 119.96 and 120.35) and a short decline till 119.95 is possible.
- On the higher side intraday resistance is around 120.75 and break above will take the pair till 121.30.
- Short term trend reversal only above 121.30.
- The pair's minor support is around 120.20 and break below targets 119.95/119.50.
It is good to sell on rallies around 120.40-45 with SL around 120.76 for the TP of 119.95/119.60
Resistance
R1- 120.75
R2-121.30
R3- 122
Support
S1-119.95
S2-119.50
S3-118.75
