JPY Trading Outlook (15-03-2016)

USD/JPY Intraday: bullish bias above 113.30

Pivot: 113.30

Our preference: long positions above 113.30 with targets @ 114.25 & 114.55 in extension.

Alternative scenario: below 113.30 look for further downside with 112.70 & 112.20 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
115.00
114.55
114.25
113.82 Last
113.30
112.70
112.20

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