JPY Trading Outlook (11-01-2016)
USD/JPY Intraday: the upside prevails.
Pivot: 117.35
Our preference: long positions above 117.35 with targets @ 118.8 & 119.3 in extension.
Alternative scenario: below 117.35 look for further downside with 116.75 & 116.1 as targets.
Comment: the RSI has just landed on a support around 30% and is reversing up.
Supports and resistances:
119.65 ***
119.3 ***
118.8 ***
117.758 Last
117.35 ***
116.75 ***
116.1 ***