USD/JPY is sruggling to close above 120 level, decline till 118.30 is possible

• RES 4: 122.01 (Mar 10^th high)
  
  
• RES 3: 121.20 (Mar 20^th high)
  
  
• RES 2: 120.50 (Apr 7^th high)
  
  
• RES 1: 119.96 (Kijun-Sen)

      PRICE: 119.84 @ 5:58 GMT 

• SUP 1: 119.60 (200 DAY HMA)
  
  
• SUP 2: 119.30 (Cloud bottom)
  
  
• SUP 3: 118.70 (Apr 3^rd low)
  
  
•  SUP 4: 118.30 (Mar 26^th low)

COMMENTARY:

USD/JPY has retreated after making a high of 120. trend is weak if the pair breaks 119.60 (200 day HMA) and any break below will drag the pair further down till 119.30/118.69 in short term.

On the upside minor resistance is around 119.96 and any break above would extend gains till 120.50/121.18.

It is good to sell on rallies around 120 for the target of 118.70 with stop around 120.50.