- 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
