JPY Trading Outlook (21-01-2016)
USD/JPY Intraday: key resistance at 117.3.
Pivot: 117.3
Our preference: short positions below 117.3 with targets @ 116.4 & 115.95 in extension.
Alternative scenario: above 117.3 look for further upside with 117.65 & 118.1 as targets.
Comment: as long as the resistance at 117.3 is not surpassed, the risk of the break below 116.4 remains high.
Supports and resistances:
118.1 ***
117.65 ***
117.3 ***
116.93 Last
116.4 **
115.95 **
115.55 **