JPY Trading Outlook (24-03-2016)
USD/JPY Intraday: bullish bias above 112.10.
Pivot: 112.10
Our preference: long positions above 112.10 with targets @ 112.90 & 113.30 in extension.
Alternative scenario: below 112.10 look for further downside with 111.75 & 111.35 as targets.
Comment: a support base at 112.10 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
113.80
113.30
112.90
112.41 Last
112.10
111.75
111.35