JPY Trading Outlook (19-02-2016)

USD/JPY Intraday: the downside prevails.

Pivot: 114.00

Our preference: short positions below 114.00 with targets @ 113.00 & 112.35 in extension.

Alternative scenario: above 114.00 look for further upside with 114.50 & 114.90 as targets.

Comment: a support base at 114.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
114.90
114.50
114.00
113.44 Last
113.00
112.35
111.65

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