Tanalys

USD/JPY Intraday: key resistance at 121.95.

Pivot: 121.95

Our preference: short positions below 121.95 with targets @ 121 120.55 in extension.

Alternative scenario: above 121.95 look for further upside with 122.45 122.7 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances:

122.7 ***

122.45 ***

121.95 ***

121.57 Last

121 ***

120.55 ***

120.15 **

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