USDJPY Mid-day Analysis 05 April 2016

Downside Prevails

Our Pivot: 111.38

Our Preference: Short sell below 111.04 with strict stop loss of 111.38 and target at 110.65 and 111.34.

Alternate Scenario: Upward penetration of 111.38 will call for 111.77 and 112.00.

NOTE: Moving in a bearish trend channel and caped by a negative trend line.

Chart with Supports and Resistances: