Tanalys

USD/JPY Intraday: bullish bias above 119.6.

Pivot: 119.6

Our preference: Long positions above 119.6 with targets @ 120.25 120.5 in extension.

Alternative scenario: Below 119.6 look for further downside with 119.25 119 as targets.

Comment: A support base at 119.6 has formed and has allowed for a temporary stabilisation.

Supports and resistances:

120.75 ***

120.5 ***

120.25 ***

119.81 Last

119.6 ***

119.25 **

119 ***

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