JPY Trading Outlook (08-09-2015)

USDJPY 

Pivot: 119.7

Likely scenario: Short positions below 119.7 with targets @ 118.55 & 117.8 in extension.

Alternative scenario: Above 119.7 look for further upside with 120.2 & 120.65 as targets.

Comment: The RSI is bearish and calls for further downside.

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