JPY Trading Outlook (29-12-2015)
USD/JPY Intraday: under pressure
Pivot: 120.75
Our preference: short positions below 120.75 with targets @ 120 & 119.8 in extension.
Alternative scenario: above 120.75 look for further upside with 121 & 121.3 as targets.
Comment: as long as 120.75 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
121.3 **
121 **
120.75 ***
120.36 Last
120 *
119.8 **
119.4 ***