Actual Recommencement In USD/JPY

Technical Reports

Considering actual recommencement, pair’s trading is now neutral. Under 109.36, the decline from 110.89 will extend for 108.10 and maybe lower. Price dynamic from 111.39 is viewed as a corrective pattern. Following pivot points include: (S1) 109.39; (P) 109.74; (R1) 110.11.

Strong support from 61.8% retracement of 104.62 to 111.39 at 107.20 should restrain downside and draw recoil. Over 110.89, the increase from 108.10 will align 111.39.

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.