USD/JPY faces strong resistance around 124.15, trend reversal only above that level.

• RES 4: 125.84 (Jun 5^th high)
  
  
• RES 4:125
  
  
• RES 3 : 124.60 (Jun 10^th high)
  
  
• RES2: 124 (200 day HMA)
  
  

PRICE: 123.53 @ 09:28 GMT 

• SUP 1 : 123.46 (20 day HMA)
  
  
• SUP 2: 123.10 (Jun 14^th low)
  
  
• SUP 1 : 122.70 (May 27^th low)
  
  
• SUP 2: 121.35 (200 day 4 HMA)
  
  

USD/JPY has made a high of 123.78 after breaking short term trend line resistance 123.40. Short term trend is weak as long as resistance 124.15 holds.

Break above 124.15 will take the pair further up till 125.85 in short term.

The major support is around 122.90 and break below will drag the pair further down till 122.45/121.50.

It is good to sell on rallies around 123.60-65 with SL around 124.15 for the TP of 122.90/122.45