JPY Trading Outlook (31-12-2015)

USD/JPY Intraday: key resistance at 120.75

Pivot: 120.75

Our preference: short positions below 120.75 with targets @ 120.2 & 120 in extension.

Alternative scenario: above 120.75 look for further upside with 121 & 121.3 as targets.

Comment: as long as the resistance at 120.75 is not surpassed, the risk of the break below 120.2 remains high.

Supports and resistances:
121.3 **
121 **
120.75 ***
120.53 Last
120.2 **
120 ***
119.8 **

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