JPY Trading Outlook (08-01-2016)
USD/JPY Intraday: the downside prevails.
Pivot: 118.3
Our preference: short positions below 118.3 with targets @ 117.25 & 116.75 in extension.
Alternative scenario: above 118.3 look for further upside with 118.8 & 119.3 as targets.
Comment: a break below 117.25 would trigger a drop towards 116.75.
Supports and resistances:
119.3 ***
118.8 ***
118.3 ***
117.61 Last
117.25 **
116.75 ***
116.1 ***