USD/JPY Intraday: key resistance at 121.65.
Pivot: 121.65
Our preference: Short positions below 121.65 with targets @ 120.9 & 120.6 in extension.
Alternative scenario: Above 121.65 look for further upside with 122 & 122.5 as targets.
Comment: As long as the resistance at 121.65 is not surpassed, the risk of the break below 120.9 remains high. The pair is posting a rebound but stands below its resistance.
