• USD saw renewed buying after the recent weakness, USD/JPY traded higher on the day at 124.036
  
  
• Safe-haven appeal in yen boosted after miserable China PMI data , USD/JPY erased gains and currently trades flat at 123.908
  
  
• Uptrend in USD/JPY intact, pair remains supported amid broad USD strength 
  
  
• US manufacturing PMI and new home sales data later in the day to be in focus for further direction
  
  

Resistance Levels:

R1: 124.19 (Daily High Jul 23)

R2: 124.48 (Daily High Jul 21)

R3: 124.57 (76.4% Fibo 125.86-120.41)

Support Levels:

S1: 123.57 (Daily Low Jul 22)

S2: 123.52 (23.6% of 120.41-124.48)

S3: 123.22 (Ichimoku Cloud Top)