The USDJPY pair resumes its correctional bearish track after confirming breaking 114.54 level, to open the way to head towards the next correctional target at 112.00, and the price falls under the negative pressure that comes by the exponential moving average 100, while RSI shows oversold signals that might push the price to test 114.54 again.
Now, the negative pressure will mainly depend on the price stability below 115.50, and breaking 112.00 will push the price to 109.94 as a next correctional target.
Support & Resistance:
Support 113.20 112.50 112.00
Resistance 114.00 114.54 115.50
Recommendation USDJPY is negative below 114.54, target at 113.00, risk limit above 115.50.
Reverse scenario The USDJPY will be positive above 115.50, target at 116.00 then 117.00, risk limit below 114.54.
Now, the negative pressure will mainly depend on the price stability below 115.50, and breaking 112.00 will push the price to 109.94 as a next correctional target.
Support & Resistance:
Support 113.20 112.50 112.00
Resistance 114.00 114.54 115.50
Recommendation USDJPY is negative below 114.54, target at 113.00, risk limit above 115.50.
Reverse scenario The USDJPY will be positive above 115.50, target at 116.00 then 117.00, risk limit below 114.54.
