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 ***

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