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Coleman: Dollar Yen poised for Non Farm Payroll volatility

Ian Coleman says there are a number of clear reasons why he is is looking at USDJPY.

1. The medium term bias remains bearish

2. Two positive daily performances in succession

3. Buying posted in Asia

4. The 161.8% Fibonacci extension is located at 101.89 from 101.23 to 101.64

5. The rally has posted an exhaustion count on the intraday chart

His profit targets are 101.60 and 101.20

Stop: 102.05

Resistance: 101.90 / 102.02 / 102.20

Support: 101.60 / 101.40 / 101.10

01:20 minutes
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