USDJPY is suppressed by the resistance at 110.85. That should confirm that it's forming the left shoulder and will test the support at 110.60, the 38.2% retracement of 110.25 to 111.20. Further decline should seen to 110.45. Upside, though, break of 110.85 will turn focus back to 111.05 resistance instead.
The target is 110.45.
Turning point: 110.85.
Under 110.85, bearish , target price is set at 110.60, then 110.45.
Above 110.85, bullish , target price is 111.05.
RSI technical indicators are bearish and predict further downward trend.
The target is 110.45.
Turning point: 110.85.
Under 110.85, bearish , target price is set at 110.60, then 110.45.
Above 110.85, bullish , target price is 111.05.
RSI technical indicators are bearish and predict further downward trend.
Commentaire:
Target reached.