USD/JPY is trading below ichimoku, decline till 121.50 is possible

• RES 4:125
  
  
• RES 3 : 124.60 (20 day HMA)
  
  
• RES2: 124.14 (Kijun-Sen)
  
  
• RES 1: 123.52 (Tenken-Sen)
  
  

PRICE: 122.78 @ 09:47 GMT 

• SUP 1 : 122.70 (May 27^th low)
  
  
• SUP 2: 121.35 (200 day 4 HMA)
  
  
• SUP 3: 120.75 (50 % retracement of 115.55 and 125.04)
  
  
• SUP 4 : 120
  
  

USD/JPY has broken short term trend line support 123.85 and is trading well below that level. The major support is around 122.60 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.

It is good to sell on rallies around 123.30-35 with SL around 124.15 for the TP of 121.50/120.70