JPY Trading Outlook (07-01-2016)

USD/JPY Intraday: capped by a negative trend line

Pivot: 118.85

Our preference: short positions below 118.85 with targets @ 118.25 & 117.95 in extension.

Alternative scenario: above 118.85 look for further upside with 119.3 & 119.7 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
119.7 ***
119.3 ***
118.85 ***
118.46 Last
118.25 ***
117.95 **
117.6 ***

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