JPY Trading Outlook (19-01-2016)

USD/JPY Intraday: key resistance at 117.45.

Pivot: 117.45

Our preference: short positions below 117.45 with targets @ 116.85 & 116.5 in extension.

Alternative scenario: above 117.45 look for further upside with 117.95 & 118.35 as targets.

Comment: the upward potential is likely to be limited by the resistance at 117.45.

Supports and resistances:
118.35 ***
117.95 ***
117.45 ***
117.38 Last
116.85 ***
116.5 **
116.15 **

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