USD/JPY's Corrective Drop

Technical Reports

Pair’s trading is still neutral. Corrective decrease from 113.17 could be progressing. If larger decline occurs, firm support from 38.2% retracement of 104.62 to 113.17 at 109.90 would cause recoil. Following pivot points include: (S1) 111.19; (P) 111.37; (R1) 111.60.

Over 112.14, USD/JPY will align a test of 113.17 maximum.

The corrective fall from 118.65 should have finished at 104.62. Strong breach of 114.73 will extend the intact rally from 98.97 for 100% projection of 98.97 to 118.65 from 104.62 at 124.30 near 125.85.