USD/JPY is trading near major resistance 122,targets 124

USD/JPY has formed bullish engulfing pattern and confirms short term bullishness , a jump till 124.13 cannot be ruled out.

Short term trend reversal can be seen only below 120.50.

It is good to buy at dips around 121.30 with stop around 120.48 for the target of 123.40/124.10.