Usd/jpy Trades Above 124, Jump Till 125 Is Possible

  • USD/JPY has recovered after making a low of 123.52 yesterday. Intra day  trend is bullish as long as support 123.50.
  • Any break below 123.50 will drag the pair further down till 123.20/122.90.
  • Short term bullish invalidation only below 122.90.
  • On the higher side minor resistance is around 124.20 and break above would extend gains till 124.50/125/125.85.

It is good to buy at dips around 123.80-85 with SL around 123.45 for the TP of 125.

The material has been provided by InstaForex Company –