JPY Trading Outlook (17-03-2016)
USD/JPY Intraday: key resistance at 113.05.
Pivot: 113.05
Our preference: short positions below 113.05 with targets @ 112.26 & 111.96 in extension.
Alternative scenario: above 113.05 look for further upside with 113.45 & 113.82 as targets.
Comment: as long as the resistance at 113.05 is not surpassed, the risk of the break below 112.26 remains high.
Supports and resistances:
113.82
113.45
113.05
112.82 Last
112.26
111.96
111.59