JPY Trading Outlook (09-12-2015)

 

USD/JPY

Pivot: 122.9

Likley scenario: long positions above 122.9 with targets @ 123.2 & 123.55 in extension.

Alternative scenario: below 122.9 look for further downside with 122.7 & 122.45 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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