JPY Trading Outlook (04-02-2016)

USD/JPY Intraday: the downside prevails.
Pivot: 119

Our preference: short positions below 119 with targets @ 116.7 & 116.2 in extension.

Alternative scenario: above 119 look for further upside with 120 & 120.4 as targets.

Comment: as long as 119 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
120.4 *
120 *
119 ***
117.554 Last
116.7 *
116.2 **
116 **

Ticker : JPY
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