JPY Trading Outlook (21-03-2016)

USD/JPY Intraday: key resistance at 112.30.

Pivot: 112.30

Our preference: short positions below 112.30 with targets @ 110.60 & 110.00 in extension.

Alternative scenario: above 112.30 look for further upside with 113.05 & 113.45 as targets.

Comment: as long as 112.30 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
113.45
113.05
112.30
111.54 Last
110.60
110.00
109.65

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