JPY Trading Outlook (23-02-2016)

USD/JPY Intraday: bullish bias above 112.70.

Pivot: 112.70

Our preference: long positions above 112.70 with targets @ 113.35 & 113.65 in extension.

Alternative scenario: below 112.70 look for further downside with 112.35 & 111.65 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
114.15
113.65
113.35
113.00 Last
112.70
112.35
111.65

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