JPY Trading Outlook (26-01-2016)

USD/JPY Intraday: the downside prevails

Pivot: 118.85

Our preference: short positions below 118.85 with targets @ 117.95 & 117.5 in extension.

Alternative scenario: above 118.85 look for further upside with 119.2 & 119.6 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:

119.6 ***

119.2 ***

118.85 ***

118.33 Last

117.95 ***

117.5 ***

117.05 **

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