The USD/JPY Stays in Consolidation

Trading in the pair is neutral, as a consolidation above 109.91 goes on. Pivot points are at: (S1) 110.33; (P) 110.66; (R1) 111.06.

Further fall is awaited in the pair. Resumption of a correction from 118.65 is awaited in the pair. The Correction can target 61.8% retracement of 98.97 to 118.65 at 106.48.

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.