USD/JPY trades well above 124 handle, targets 125.85

• RES 4: 126.88 (161.8% retracement of 124.43 and 120.45)
  
  
• RES 3 : 125.85 (jun 5^th high)
  
  
• RES 2:125
  
  
• RES 1: 124.40 (Jun 24^th high)
  
  

PRICE: 124.39 @11:00 GMT 

• SUP1 : 124.24 (7 day 4 HEMA)
  
  
• SUP2 :123.94 (55 DAY 4 HEMA)
  
  
• SUP 3 : 123.35 ( 200 day 4 HMA)
  
  
• SUP 4 :122.90 (Jul 14^th low)
  
  

Chart Pattern: Cup and handle

USD/JPY has made a high of 124.46 and is currently trading at 124.35. Intraday trend is bullish as long as support 123.78 holds.

Any break below 123.78 will drag the pair further down till 123.50/123.25 in short term .

On the higher side any break above 124.60 will target 125/125.85 in short term.

It is good to buy at dips around 124.30-35 with SL around 123.78 for the TP of 125/125.85.