USD/JPY’s Maximum

Pair’s trading stays neutral. Over 113.08 the recoil from 110.83 will prolong towards repeat test of 114.73 key resistance. Following pivot points include: (S1) 111.97; (P) 112.29; (R1) 112.61.

Strong breach should expand the rally from 107.31 for repeat test of 118.65 maximum. Breach of 110.83 will enlarge the drop from 114.73. Bottom should be formed under 61.8% retracement of 107.31 to 114.73 at 110.14.

A medium term growth from 98.97 continues. Overcoming of resistance 114.49 will head towards a test on the 118.65 maximum. Breach of 107.31 will prolong the medium term drop towards the minimum of 98.97.