Tanalys

USD/JPY Intraday: bullish bias above 124.4.

Pivot: 124.4

Our preference: Long positions above 124.4 with targets @ 124.8 125 in extension.

Alternative scenario: Below 124.4 look for further downside with 124.2 124.05 as targets.

Comment: A support base at 124.4 has formed and has allowed for a temporary stabilisation.

Supports and resistances:

125.2 **

125 ***

124.8 **

124.54 Last

124.4 **

124.2 ***

124.05 ***

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