JPY Trading Outlook (01-04-2016)

USD/JPY Intraday: key resistance at 112.85

Pivot: 112.85

Our preference: short positions below 112.85 with targets @ 112.05 & 111.60 in extension.

Alternative scenario: above 112.85 look for further upside with 113.20 & 113.45 as targets.

Comment: as long as 112.85 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
113.45
113.20
112.85
112.55 Last
112.05
111.60
111.20

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