USD/JPY intraday: key resistance at 159.45.

Pivot: 159.45

Our preference: short positions below 159.45 with targets at 159.15 & 159.00 in extension.

Alternative scenario: above 159.45 look for further upside with 159.65 & 159.80 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances:

159.80 **

159.65 ***

159.45 ***

159.27 Last

159.15 ***

159.00 **

158.85 **