USD/JPY trades well above minor resistance 124.50, targets 125.85

• RES 4: 127.93 (161.8% retracement of 125.85 and 120.40)
  
  
• RES 3: 126.88 (161.8% retracement of 124.43 and 120.45)
  
  
• RES 2 : 125.85 (jun 5^th high)
  
  
• RES 1:125
  
  

PRICE: 124.86 @11:08 GMT 

• SUP1 : 124.70 (7 day 4 HEMA)
  
  
• SUP2 :124.50 (Tenken-Sen)
  
  
• SUP 3 : 123.78 ( Aug 4^th low)
  
  
• SUP 4 :123.50 (Jul 31^st low)
  
  

Chart Pattern: Cup and handle

USD/JPY has broken handle high of 124.50 and jumped till 125. Intraday trend is bullish as long as handle 124.50 holds.

Any break below 124.40 will drag the pair further down till 123.78/123.50 in short term.

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

It is good to buy at dips around 124.80-85 with SL around 124.45 for the TP of 125.85.