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- USD/JPY has made a low of 118.60 on Friday and slightly recovered till 119.58 in today morning. Overall trend is bullish as long as support 118.40 holds.
- On the higher side minor resistance is around 119.60 and any break above would extend gains till 120.20/120.75 in short term.
- The pair's short term support is around 118.75 and break below targets 118.40/118. Overall bullish invalidation only below Aug 24th 2015 low.
It is good to buy at dips around 119.15-20 with SL around 118.40 for the TP of 120.20/120.75
