Resumption of Correction in USD/JPY is Awaited

Technical Reports

Trading is on the downside, as the pair stays resistance 112.18. Pivot points are at: (S1) 110.36; (P) 110.84; (R1) 111.14.

Drop from 114.49 should prolong to support 108.81. Resumption of a correction from 118.65 is awaited in the pair.

Corrective decline from 118.65 suggests that growth from 98.97 is not completed yet. The pair can test maximum 125.85, because of overcoming of 118.65 level. If decline from 118.65 extends lower, downside should be contained by 61.8% retracement of 98.97 to 118.65 at 106.48. Recoil in the pair is possible.