JPY Trading Outlook (24-03-2016)

USD/JPY Intraday: bullish bias above 112.10.

Pivot: 112.10

Our preference: long positions above 112.10 with targets @ 112.90 & 113.30 in extension.

Alternative scenario: below 112.10 look for further downside with 111.75 & 111.35 as targets.

Comment: a support base at 112.10 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
113.80
113.30
112.90
112.41 Last
112.10
111.75
111.35

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