Technical Analysis USD/JPY

Technical Analysis; USD JPY remains on track for key targets as mentioned earlier this week therefore no net change However we have been able to stretch to Target 2. Currently 113.50 was yesterday’s high and Bears probe for weakness However Bulls remain solidly in control. And those targets still in effect are as follows: Support at 113.30 due for a retest 113. 30 if key high fails as support 113.50. Key Supports and resistance as follows: Bulls will defend! 113.30, 113.50 and 113.80. Above 113 80 we have a chance to fill the gap to 114.50 and that would allow a reasonable opportunity to trade higher to 115 handle. Above 115 longer term 118.00 is in the sights of the bulls. Key supports intra-day remain 113.30 113.00 112.80 and 112.70. Bears gain power below 112 half.

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