JPY Trading Outlook (20-08-2015)

USDJPY

Pivot: 124.15

Likely scenario: Short positions below 124.15 with targets @ 123.65 & 123.45 in extension.

Alternative scenario: Above 124.15 look for further upside with 124.6 & 125 as targets.

Comment: Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

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