Tanalys

USD/JPY ST: the downside prevails.

Pivot: 121.5

Our preference: short positions below 121.5 with targets @ 116 113.85 in extension.

Alternative scenario: above 121.5 look for further upside with 123.8 126 as targets.

Comment: the RSI has broken down its 30 level.

Supports and resistances:

126 **

123.8 ***

121.5 ***

117 Last

116 ***

113.85 ***

112.25 **

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