Bullish Sentiment in USD/JPY
Pair’s trading stays neutral. USD/JPY is limited inside of consolidation from 114.44. Firm breach of 114.49 will argue that correction pattern from 118.65 has concluded at 107.31. Following pivot points include: (S1) 113.67; (P) 113.94; (R1) 114.35
A test on 118.65 is about to be aligned. If further decline occurs, the pair will recoil and the bullish sentiment will sustain.
A medium term growth from 98.97 continues. Overcoming of resistance 114.49 will prolong the lift to 61.8% projection of 98.97 to 118.65 from 107.31 at 119.47. 100% projection at 126.99 is about to be taken out, which will be the sign of long term uptrend progression.