JPY Trading Outlook (10-02-2016)
USD/JPY Intraday: under pressure.
Pivot: 115.85
Our preference: short positions below 115.85 with targets @ 114.20 & 113.55 in extension.
Alternative scenario: above 115.85 look for further upside with 116.50 & 117.00 as targets.
Comment: as long as 115.85 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
117.00 **
116.50 **
115.85 **
115.18 Last
114.20 ***
113.55 *
113.00 *