USD/JPY Intraday: Watching for a Trigger Below Support
USD/JPY (USD/JPY)
-0.642-0.41%
The downside prevails as long as 158.20 is resistance, with 157.35 and 157.18 as targets
Our pivot point is at 158.20.
Our preference: The downside prevails as long as 158.20 is resistance, with 157.35 and 157.18 as targets
Alternative scenario: above 158.20, look for 158.47 and 158.64.
Comment: Prices are now edging toward our first target. Should this level be reached, a pullback is likely to surface; yet a convincing break below it could open the door to further losses.
Supports and resistances:
158.64 **
158.47 *
158.20 **
157.50 last
157.35
157.18 **
157.02 *
Our preference: The downside prevails as long as 158.20 is resistance, with 157.35 and 157.18 as targets
Alternative scenario: above 158.20, look for 158.47 and 158.64.
Comment: Prices are now edging toward our first target. Should this level be reached, a pullback is likely to surface; yet a convincing break below it could open the door to further losses.
Supports and resistances:
158.64 **
158.47 *
158.20 **
157.50 last
157.35
157.18 **
157.02 *
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