USD/JPY's Diapason Trading Is Progressing

Technical Reports

Pair’s trading remains neutral. Diapason trading is progressing in 110.68/111.82. Breach of 111.82 will confirm that correction from 113.17 has ended at 109.76. Another lift should align repeat test of 113.17 maximum. Following pivot points include: (S1) 111.35; (P) 111.56; (R1) 111.74.

Under 110.68, further decline will occur. 38.2% retracement of 104.62 to 113.17 at 109.90 will retain downside and draw recoil 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. Larger decline should align 61.8% retracement of 104.62 to 113.17 at 107.88 and lower.