USD/JPY Daily Technicals: near 200 day SMA on reversal area waiting for direction

D1 price is near 100 day SMA (100 SMA) and 200 day SMA (200 SMA) waiting for daily bearish/bullish direction of the trend. The key support/resistance levels for this pair are the following:

• 121.06 support level located below 100 SMA/200 SMA in the beginning of the bearish area of the daily chart, and
• 123.78 resistance level located above 100 SMA/200 SMA in the bullish area of the chart.
  

RSI indicator is estimating the ranging bearish condition.

• If the price will break 123.78 resistance level so the bullish trend will be continuing.
  
• If price will break 121.06 support so the bearish reversal will be started.
  
• If not so the price will be ranging within the levels.
  

• Recommendation to go short: watch the price to break 121.06 support level for possible sell trade
• Recommendation to go long: watch the price to break 123.78 resistance level for possible buy trade
• Trading Summary: ranging for direction
  

SUMMARY : ranging