JPY Trading Outlook (24-12-2015)

USD/JPY Intraday: capped by a negative trend line.

Pivot: 121.15

Our preference: short positions below 121.15 with targets @ 120.65 & 120.3 in extension.

Alternative scenario: above 121.15 look for further upside with 121.5 & 121.75 as targets.

Comment: as long as 121.15 is resistance, likely decline to 120.65.

Supports and resistances:
121.75 **
121.5 ***
121.15 **
120.85 Last
120.65 ***
120.3 ***
120.1 ***

 

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