USD/JPY trades well above shorter resistance 123, jump till 125 is possible

• RES 4 : 125.85 (jun 5^th high)
  
  
• RES 3:125
  
  
• RES 2: 124.36 (Jun 24^th high)
  
  
• RES 1 : 123.71 (2^nd jul high)
  
  

PRICE: 123.35 @ 10:36 GMT 

• SUP 1 : 123.37 ( 200 day 4 HMA)
  
  
• SUP 1: 122.60 (20 day 4 HEMA)
  
  
• SUP 2 :122.05 (Kijun-Sen)
  
  
• SUP 3: 121.60 (61.8% retracement of 120.40 and 123.71)
  
  

USD/JPY has recovered after making a low of 123.17 in Asian session . Overall trend is bullish as long as support 122.90 holds.

On the downside any break below 122.90 will drag the pair further down till 122.40/122 in short term.

The minor resistance on the higher side is at 123.71 and any indicative break above would extend gains till 124.40/125/125.85.

Bullish invalidation only below 122.

It is good to buy at dips around 123.40-45 with SL around 122.90 for the TP of 124.40/125