JPY Trading Outlook (09-02-2016)

USD/JPY Intraday: under pressure.

Pivot: 116.50

Our preference: short positions below 116.50 with targets @ 114.60 & 113.55 in extension.

Alternative scenario: above 116.50 look for further upside with 117.00 & 117.50 as targets.

Comment: the break below 116.50 is a negative signal that has opened a path to 114.60.

Supports and resistances:
117.50 **
117.00 *
116.50 **
115.52 Last
114.60 *
113.55 *
113.00 *

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