USD/JPY's 4 Hour 55 EMA

Technical Reports

The pair hit firm support from 4 hour 55 EMA and recoiled. The minor resistance of 111.13 is aligned. Breach in that area will head towards 111.39. Following pivot points include: (S1) 110.49; (P) 110.70; (R1) 111.05.

Strong breach of 111.39 will extend deeper rally from 104.62 for the key resistance of 114.73. Under 110.27, trading will turn up on the downside to 109.36.

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.