USD/JPY’s Stable Trading

If the entire 112.22 minor resistance holds, pair’s trading stays on the downside. Stable trading under 55 day EMA will align 197.71 support. Following pivot points include: (S1) 111.58; (P) 111.90; (R1) 112.26.

The intact correction from 118.65 might be extending. Breach of 108.81 will head towards 61.8% retracement of 98.97 to 118.65 at 106.48. Over 112.22 minor resistance trading will turn up in the neutral position.

The lift from 98.97 keeps progressing. Breach of 118.65 will head towards a test on 125.85 maximum. Expansion of the long term uptrend from 75.56 is unlikely. Formation of a top around 125.85 will be closely watched. If decline from 118.65 moves downwards, 61.8% retracement of 98.97 to 118.65 at 106.48 should restrain the downside and cause recoil.