USD/JPY's Recoil To Restore

Technical Reports

Pair’s breach of 111.82 resistance indicates a recoil restoration from 109.76. Trading turned up on the upside to 100% projection of 109.76 to 111.82 from 110.37 at 112.43. Following pivot points include: (S1) 111.39; (P) 111.69; (R1) 112.24.

Breach will head towards a test of 113.17 maximum. Under the minor support of 111.10, the bullish sentiment will be clouded and trading will become neutral.

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.