Temporary Low In USD/JPY

Technical Reports

Trading is neutral for consolidation with a temporary low at 111.82. Still, further fall is expected while resistance 113.28 keeps. Pivot points are at: (S1) 111.82; (P) 112.18; (R1) 112.53.

Trading below 111.82 will aline 38.2% retracement of 104.62 to 114.54 at 110.75 and bottoming signal is possible above key support 109.76. Fall from 114.54 is seen as correcting whole uptrend from 104.62, after rejection by resistance 114.73.

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.