USD/JPY’s Key Resistance

Technical Reports

Pair’s trading stays slightly on the upside if the whole minor support of 112.83 holds. Breach of 113.74 will expand increase from 110.83 and align 114.73 key resistance. Following pivot points include: (S1) 112.99; (P) 113.22; (R1) 113.62.

Under 112.83 minor support trading will turn up in the neutral position. Another rally is awaited if 112.02 support is present.

The correction from 118.65 has ended at 107.31. A medium term growth from 98.97 continues. Firm breach of 114.73 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.