JPY Trading Outlook (17-12-2015)

USD/JPY Intraday: bullish bias above 121.5.
Pivot: 121.5

Our preference: long positions above 121.5 with targets @ 122.45 & 122.7 in extension.

Alternative scenario: below 121.5 look for further downside with 121.2 & 120.9 as targets.

Comment: the RSI is bullish and calls for further upside.

Supports and resistances:
123.05 ***
122.7 **
122.45 ***
122.25 Last
121.5 **
121.2 ***
120.9 ***

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