USD/JPY Trade Idea

• Potential reversal Zone -122.80 (trend line joining 120.25 and 122.22)
   
• The pair has broken this level and declined till 122.62 and is currently trading around 122.75
   
• Intraday trend is positive as long as resistance 123.20 holds.
   
• Any break above 123.20 will take the pair to new level 123.75/124.15.
   
• On the downside support is at 122.48 and break below targets 122/121.50.

It is good to sell on rallies around 122.85-90 with SL around 123.21 for the TP of 122/121.50.                         

R1-123.20

 R2-123.60

R3-124.15

Support

S1- 122.48

S2-122

S3-121.50