USD/JPY Intraday: bullish bias above 120.3.
Pivot: 120.3
Our preference: Long positions above 120.3 with targets @ 121.1 & 121.55 in extension.
Alternative scenario: Below 120.3 look for further downside with 119.95 & 119.65 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The pair remains on the upside.
