USD/JPY is in a strong bull trend as it is trading above its 50, 100 and 200-period simple moving average. USD/JPY might be set for a corrective move down as a head-and-shoulders pattern is in the making. The RSI, MACD and Stochastics indicators are also losing steam. The current context suggests that a pullback down to 113.55 (October 2 low) and possibly to 113.18 can be next. USD/JPY 4-hour chart Spot rate: 113.71 Relative change: -0.17% High: 114.12 Low: 113.68 Main trend: Bullish Resistance 1: 114.00 figure Resistance 2: 114.80 November 2017 high Resistance 3: 115.50 March 10, 2017 high Support 1: 113.55 October 2 low Support 2: 113.18, July high Support 3: 112.50 figure Support 4: 112.00-112.17 zone, figure and August 1 swing high Support 5: 111.84 August 29 swing high FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY Technical Analysis: Challenging the key 200-day SMA above 131.00 FX Street 5 years USD/JPY is in a strong bull trend as it is trading above its 50, 100 and 200-period simple moving average. USD/JPY might be set for a corrective move down as a head-and-shoulders pattern is in the making. The RSI, MACD and Stochastics indicators are also losing steam. The current context suggests that a pullback down to 113.55 (October 2 low) and possibly to 113.18 can be next. USD/JPY 4-hour chart Spot rate: 113.71 Relative change: -0.17% High: … Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
