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USD/JPY has recovered after making a low of 116.07. It has taken support near 115.85 (Jan 16th 2015) and any further weakness only below 115.85.
- The pair is currently trading at 119.89 with a high of 120.07 and low of 118.28
- On the down side short term support is at 118 and break below target 117/115. pair's minor support is at 119.20.
- The short term resistance is around 120.30 and break above targets 121/121.65.
It is good to buy at dips around 119.90-95 with SL around 119.20 for the TP of 121/121.60
