JPY Trading Outlook (08-07-2015)

USDJPY

Pivot: 122.9

Likely scenario: Short positions below 122.9 with targets @ 121.83 & 121.4 in extension.

Alternative scenario: Above 122.9 look for further upside with 123.35 & 123.7 as targets.

Comment: As long as the resistance at 122.9 is not surpassed, the risk of the break below 121.83 remains high.

 

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