USD/JPY Remains in Diapason

Technical Reports

The pair remains inside of diapason over 112.95. Trading character is neutral. Short term prognosis is bullish and another increase is awaited if 112.95 support stands. Following pivot points include: (S1) 112.82; (P) 113.77; (R1) 114.47.

Firm breach of 114.49 key resistance will head towards a repeat test of 118.65 maximum. Breach of 112.95 support will suggest rejection from 114.49 and trading will turn up on the downside towards 111.64 support and lower.

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.