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