Tanalys

USD/JPY Intraday: bullish bias above 122.9.

Pivot: 122.9

Our preference: Long positions above 122.9 with targets @ 124.1 124.65 in extension.

Alternative scenario: Below 122.9 look for further downside with 122.45 122.05 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:

124.95

124.65

124.1

123.29 Last

122.9

122.45

122.05

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