Tanalys

USD/JPY intraday: bullish bias above 104.6.

Pivot: 104.6

Our preference: Long positions above 104.6 with targets @ 105.1 105.4 in extension.

Alternative scenario: Below 104.6 look for further downside with 104.2 104 as targets.

Comment: a support base at 104.6 has formed and has allowed for a temporary stabilisation.

Key levels

105.6

105.4

105.1

104.798 last

104.6

104.2

104

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