USDJPY is facing 111.57 resistance. As long as the pair is below this level, the rise from 110.11 could be treated as consolidation of the downtrend from 115.50 and further decline to 109.00 area is still possible after the consolidation. On the upside, a break of 111.57 resistance will indicate that the downtrend had completed at 110.11 already, then the following upward movement could bring price back to 113.50 zone.

usdjpy 4-hours chart


One thought on “USDJPY is facing 111.57 resistance”

  1. Ken Moulton says:

    Wrong. Watch the price pattern. Predicting is garbage. Price broke the uptrend and got short. Unless and until price breaches and retest the downward trendline stay short.

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