Tanalys

USD/JPY Intraday: key resistance at 123.65.

Pivot: 123.65

Our preference: Short positions below 123.65 with targets @ 123 122.7 in extension.

Alternative scenario: Above 123.65 look for further upside with 123.85 124.15 as targets.

Comment: As long as 123.65 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:

124.15 ***

123.85 **

123.65 ***

123.4450 Last

123 ***

122.7 **

122.4 ***

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