USD/JPY faces trend line resistance around 124, bullishness only above that level

• RES 4:125
  
  
• RES 3 : 124.60 (Jun 10^th high)
  
  
• RES2: 124.20 (200 day HMA)
  
  
• RES 1: 123.80 (Support turned into resistance)
  
  

PRICE: 123.77 @ 09:03 GMT 

• SUP 1 : 123.50 (20 day HMA)
  
  
• SUP 2: 123.23 (55 day H EMA)
  
  
• SUP 1 : 122.70 (May 27^th low)
  
  
• SUP 2: 121.35 (200 day 4 HMA)
  
  

USD/JPY has broken short term trend line support 123.85 and declined till 122.44. The major support is around 122.50 and any break below will drag the pair further down till 121.50/120.70.

The minor resistance is around 124.13 and any break above would extend gains till 124.62/125.

Bearish invalidation only above 124.15.

It is good to sell on rallies around 123.50-60 with SL around 124.15 for the TP of 121.50/120.70