USD/JPY's Retreat

Technical Reports

Pair’s trading stays neutral. USD/JPY aligned a minor resistance of 109.82. Breach in that region will confirm ending of the retreat from 113.39 and extension of increase from 104.62. Following pivot points include: (S1) 108.92; (P) 109.32; (R1) 109.93.

Repeat test of 111.39 should be aligned. Breach of 108.10 will resume the decline from 108.10 to 61.8% retracement of 104.62 to 111.39 at 107.20.

The corrective fall from 118.65 should have finished at 104.62. USD/JPY is restricted inside of medium term falling channel from 118.65. Firm breach of 61.8% retracement of 104.62 to 111.39 at 107.20 will extend the decrease from 118.65 through the minimum of 104.62.