USD/JPY takes support at 122.70, jump till 125 is possible

• RES 4:125
  
  
• RES 3 : 124.60 (20 day HMA)
  
  
• RES2: 124.14 (Kijun-Sen)
  
  
• RES 1: 123.80 (Support turned into resistance)
  
  

PRICE: 123.58 @ 10:08 GMT 

• SUP 1 : 123.30 (Tenken-Sen)
  
  
• 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)

USD/JPY has made a low of 122.44 and recovered from that level. It has formed temporary bottom around 122.44, a jump till 125 cannot be ruled out.

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

It is good to buy at dips around 123.10 with SL around 122.50 for the TP of 125.