JPY Trading Outlook (22-01-2016)

USD/JPY Intraday: the upside prevails.

Pivot: 117.1

Our preference: long positions above 117.1 with targets @ 118.1 & 118.35 in extension.

Alternative scenario: below 117.1 look for further downside with 116.6 & 116.2 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
118.6 ***
118.35 ***
118.1 ***
117.81 Last
117.1 **
116.6 ***
116.2 **

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