Tanalys

USD/JPY Intraday: key resistance at 123.25.

Pivot: 123.25

Our preference: Short positions below 123.25 with targets @ 122.6 122.35 in extension.

Alternative scenario: Above 123.25 look for further upside with 123.7 124 as targets.

Comment: The upward potential is likely to be limited by the resistance at 123.25.

Supports and resistances:

124 *

123.7 **

123.25 ***

123.06 Last

122.6 ***

122.35 *

121.95 *

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