Corrective Fall In USD/JPY

Technical Reports

Trading is on the downside, as corrective fall from 114.54 might prolong. Pivot points are at: (S1) 112.72; (P) 113.33; (R1) 113.86.

Trading above minor resistance 113.55 will bring retest on 114.54 and key resistance 114.73. Overcoming of 38.2% retracement of 110.37 to 114.54 at 112.94 will aline 61.8% retracement at 111.96.

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.