USDJPY – Fresh bearish signal on break of 112.85 Fibo support

Slobodan Drvenica Windsor Brokers

USDJPY

The pair extended strong bearish acceleration from 113.50 lower platform and took out important support at 112.85 (112.85 (Fibo 61.8% of 111.57/114.94 upleg/4-hr cloud base. Fresh bearish signal was generated for further retracement of 111.57/114.94 rally that now eyes 112.37 (Fibo 76.4%) that marks the only significant obstacle en-route towards key near-term supports 111.60 base. Daily MA's and Tenkan/Kijun-sen lines are in full bearish setup and supportive for further weakness. Close below 112.85 needed to confirm bearish stance. Broken Kijun-sen (113.59) is expected to cap upticks.

Res: 113.07; 113.26; 113.59; 113.73

Sup: 112.60; 112.37; 112.00; 111.60

Interested in USD/JPY technicals? Check out the key levels

1. R3 115.86
2. R2 115.41
3. R1 114.75
PP 114.31
1. S1 113.65
2. S2 113.20
3. S3 112.54

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

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