USD/JPY trades well above 120 level, targets 122

• RES 4: 122.35 (161.8% retracement of 120.97 and 119.04)
  
  
• RES 3: 122
  
  
• RES 2: 121.72 (28^TH AUG HIGH)
  
  
• RES1:121.30 ( SEP 10^TH HIGH)
  
  

PRICE: 120.85 @10:56 GMT 

• SUP 1: 120.57 (Tenken-Sen)
  
  
• SUP 2: 120.25 (20 day HMA)
  
  
• SUP 1: 119.50 (38.2% retracement of 116.07 and 121.72)
  
  
• SUP 2: 118.80 (Aug 9^th low)
  
  

USD/JPY has broken major trend line resistance at 120.70 and went up to 121.10. Intraday trend is bullish as long as support 120.50 holds

Any break below 120.50 will take the pair further down till 120/119.50.

On the upper side short term resistance is around 121.30 and any break above targets 121.75/122

It is good to buy at dips 120.70 -75 with  SL around 120.30 for the TP of 121.30/121.75