USD/JPY Intraday: Supported By A Rising Trend Line.
Long Positions Above 120.25 With Targets @ 121.75 & 122.35 In Extension. ( 31/08/2015 01:18 )
Pivot: 120.25
Our preference: Long positions above 120.25 with targets @ 121.75 & 122.35 in extension.
Alternative scenario: Below 120.25 look for further downside with 119.4 & 118.9 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
123.1 ***
122.35 **
121.75 ***
121.22 Last
120.25 ***
119.4 **
118.9 **
