Nice idea on USDJPY and there may be bullish potential as you have identified. The 1st support that we have identified is at 112.63 which is close to the support level that you've identified. It is a 61.8% Fibonacci extension , 38.2% Fibonacci retracement and a horizontal pullback support. Stochastic is approaching its support at 4.6% where a corresponding bounce could occur. If a potential bounce does occur, we may want to look at 113.07 resistance level. It is a 61.8% Fibonacci retracement and a horizontal overlap resistance. Looking forward to see how things develop.
Please have a look at our idea and we would like to hear your thoughts.
Please have a look at our idea and we would like to hear your thoughts.