Growth Resumption In USD/JPY

Technical Reports

Trading is on the upside for key resistance 114.73, as growth resumed and reached 114.54. The forecast will remain bullish in case of retreat. Pivot points are at: (S1) 113.85; (P) 114.21; (R1) 114.91.

Hitting of support 113.51 will indicate a short term topping. Overcoming of key resistance 114.73 will confirm larger bullish forecast and the pair aline resistance 118.65.

Overcoming of resistance 114.73 will renew growth from 98.97 to 100% projection of 98.97 to 118.65 from 104.62 at 124.30, which is close to 125.85. A corrective drop from 118.65 should have completed with three waves down to 104.62, but deeper fall is possible to 61.8% retracement of 104.62 to 113.17 at 107.88 and below.