USD/JPY: A Bounce Likely |


Type: Bearish Breakout.

Key Levels: 
Resistance: 115.522, pivot: 115.249, and support: 114.823.

Preferred Case:  is in a bullish momentum and abiding to our bullish trendline. We see potential for a bounce from our pivot at 115.249 in line with 38.2% and 61.8% Fibonacci extension towards our 1st resistance at 115.522 in line with 100% and 161.8% Fibonacci projection.

Alternative Scenario: 
Alternatively, prices may dip towards our 1st support at 114.823 in line with 38.2% Fibonacci retracement.

USD/JPY price chart.
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