JPY Trading Outlook (14-03-2016)
USD/JPY ST: key resistance at 116.00.
Pivot: 116.00
Our preference: short positions below 116.00 with targets @ 110.00 & 107.50 in extension.
Alternative scenario: above 116.00 look for further upside with 118.75 & 121.70 as targets.
Comment: technically the RSI is below its neutrality area at 50.
Supports and resistances:
121.70 ***
118.75 ***
116.00 ***
113.81 Last
110.00 ***
107.50 **
105.20 ***