USD/JPY Intraday: the bias remains bullish.
Pivot: 118.55
Our preference: Long positions above 118.55 with targets @ 119.1 & 119.45 in extension.
Alternative scenario: Below 118.55 look for further downside with 118.25 & 118 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The pair stands above its support and remains on the upside.
