USD/JPY Met Support From 4 Hour 55 EMA

Technical Reports

The pair slightly recommenced, as support from 4 hour 55 EMA has been touched. Still, it remained inside of diapason under 110.02 near term top. Trading stays neutral. Following pivot points include: (S1) 109.15; (P) 109.35; (R1) 109.56.

Further consolidation and decline are expected. 38.2% retracement of 104.62 to 110.02 at 107.95 should restrain the downside and cause rally restoration. Breach of 110.02 will expand the lift from 104.62 to 61.8% retracement of 114.73 to 104.62 at 110.86.

Corrective drop from 118.65 has completed at 104.62. Growth from 98.97 could be extending the uptrend from 98.97. Sustained breach of 114.73 resistance will head towards 118.65 and higher.