USD/JPY trades below 120 level, decline till 118.80 is possible

• RES 4:121.30 ( SEP 10^TH HIGH)
  
  
• RES 3: 120.75 (61.8% retracement of 121.75 and 119.21)
  
  
• RES 2: 120.40 (20 day 4 HMA)
  
  
• RES 1: 120 ( 7 day 4 H EMA)
  
  

PRICE: 119.69 @11:13 GMT 

• SUP 1: 119.50 (38.2% retracement of 116.07 and 121.72)
  
  
• SUP 2: 118.80 (Aug 9^th low)
  
  
• SUP3 : 118.60 (Sep 9^th low)
  
  
• SUP 4: 118.20 (61.8% retracement of 116.07 and 121.72)

USD/JPY has broken minor support around 120 (trend line joining 119.96 and 120.35) and a short decline till 118.80 is possible.

On the higher side intraday resistance is around 120.10 and break above will take the pair till 120.65/121.30.

Short term trend reversal only above 121.30.

The pair's minor support is around 119.50 and break below targets 118.80/118.25

It is good to sell on rallies around 120.10-20 with SL around 120.75 for the TP of 119.55/118.80