USD/JPY Intraday: Key support level approaches

USD/JPY (USD/JPY)
-1.943-1.22%
The downside prevails as long as 160.51 is resistance, with 158.23 and 158.07 as targets
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Our pivot point is at 160.51.

Our preference: The downside prevails as long as 160.51 is resistance, with 158.23 and 158.07 as targets

Alternative scenario: above 160.51, look for 160.79 and 160.96.

Comment: The approach toward our first target represents a key level to monitor, it may trigger pressure for a pullback, though a firm close below this threshold could lead prices lower.

Supports and resistances:
160.96 **
160.79 *
160.51 **
159.04 last
158.23
158.07 **
157.90 *

Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
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