Tanalys

USD/JPY Intraday: key resistance at 122.8.

Pivot: 122.8

Our preference: Short positions below 122.8 with targets @ 122.2 122 in extension.

Alternative scenario: Above 122.8 look for further upside with 123.05 123.25 as targets.

Comment: As long as 122.8 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:

123.25 **

123.05 **

122.8 ***

122.51 Last

122.2 **

122 ***

121.85 ***

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