JPY Trading Outlook (15-01-2016)

USD/JPY Intraday: consolidation.

Pivot: 118.35

Our preference: short positions below 118.35 with targets @ 117.45 & 117.2 in extension.

Alternative scenario: above 118.35 look for further upside with 118.6 & 118.85 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
118.85 ***
118.6 ***
118.35 ***
118.218 Last
117.45 ***
117.2 ***
116.95 **

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