JPY Trading Outlook (16-05-2016)

Trade USD/JPY Intraday: rebound.

Pivot: 108.20

Our preference: long positions above 108.20 with targets @ 109.40 & 109.90 in extension.

Alternative scenario: below 108.20 look for further downside with 107.40 & 107.00 as targets.

Comment: the RSI calls for a new upleg.

Supports and resistances:
110.50
109.90
109.40
108.77 Last
108.20
107.40
107.00

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