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USD/JPY has retreated till 122.71 after making a high of 123.60. Short term trend is bullish as long as support 122.48 holds.
- Any break below 122.48 will drag the pair till 121.99/121.80 in short term.
- On the higher side major resistance is around 123.60 and break above targets 124.13/124.50.
- Overall bullish invalidation only below 121.80.
It is good to buy at dips around 122.80-85 with SL around 122.48 for the TP of 123.60/124.10.
