JPY Trading Outlook (12-01-2016)

USD/JPY Intraday: the downside prevails

Pivot: 117.95

Our preference: short positions below 117.95 with targets @ 117.05 & 116.7 in extension.

Alternative scenario: above 117.95 look for further upside with 118.8 & 119.3 as targets.

Comment: as long as 117.95 is resistance, expect a return to 117.05.

Supports and resistances:
119.3 ***
118.8 ***
117.95 ***
117.7 Last
117.05 ***
116.7 ***
116.1 ***

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