USD/JPY MT: capped by a negative trend line.
Pivot: 109.85
Our preference: short positions below 109.85 with targets at 101.15 & 99.00 in extension.
Alternative scenario: above 109.85 look for further upside with 114.50 & 118.50 as targets.
Comment: The pair stands below its strong horizontal resistance at 112.00 and is capped by a declining trend line.
Supports and resistances:
118.50
114.50
109.85
104.01 Last
101.15
99.00
95.90

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