FX.co ★ Technical analysis and trading recommendations for the USD / JPY currency pair as of November 1, 2017

The USD/JPY currency pair formed a corrective movement from the resistance level of 114.40 and reached a periodic value of 112.90. This seems supportive and appealed to bulls to return in the market. Currently, the quotation shows a good upside interest as it reaches near the level of 114.00. The bulls probably assumed that the level of 114.40 will be reached which resulted in a formation of a cluster. However, since the levels belong to the strong class, a temporary flat may be seen within the level.

Key Levels

Resistance zones: 114.40

Support zones: 112, / 111,80 *; 109.80; 108.00

Draw your attention: Predictions are not a direct guide to action!