USDJPY’s fall from 114.45 had completed at 112.95 already. The subsequent bounce would possibly be resumption of the uptrend from 111.65.
Further rise to test 114.45 resistance could be expected, a breakout of this level could trigger further upside movement towards 115.50 key resistance.
On the downside, a breakdown below 112.95 support will indicate that lengthier consolidation for the uptrend from 107.31 (Sep 8 low) is needed, then the pair would find next support at around 112.30.
Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.
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