USDJPY struggles to break below 123, targets 124.40/125

• 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: 123.69 @09:39 GMT 

• SUP 1 : 123.25( 200 day 4 HMA)
  
  
• SUP 2 :122.90 (Jul 14^th low)
  
  
• SUP 3: 122.40
  
  
• SUP 4: 121.98 (61.8% retracement of 120.40 and 124.44)
  
  

USD/JPY formed double bottom around 123 and is recovering from this level. Overall trend is still bullish as long as support 123 holds.

On the lower side minor support are at 123.20 and any break below  will drag the pair further down till 122.90/122.40.

The pair's resistance is at 123.90 and above that will take the pair to next level at 124.50/125.

It is good to buy at dips around 123.55-60 with SL around 123.20 for the TP of 124.40/125