(18 OCTOBER 2018)USD/JPY:Bullish bias above 112.35.

Pivot (invalidation): 112.35

Our preference

Long positions above 112.35 with targets at 112.75 & 113.00 in extension.

Alternative scenario

Below 112.35 look for further downside with 112.15 & 111.95 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be

limited.

(By Swissquote TRADING CENTRAL)