JPY Trading Outlook (17-08-2015)

USDJPY

Pivot: 124.6

Likely scenario: Short positions below 124.6 with targets @ 124 & 123.75 in extension.

Alternative scenario: Above 124.6 look for further upside with 125 & 125.3 as targets.

Comment: As long as the resistance at 124.6 is not surpassed, the risk of the break below 124 remains high.

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