Title:

USDJPY is approaching a pivot, potential for bounce!

Type:

Bearish Drop

Resistance: 114.529

Support: 112.446

Pivot: 113.315

Preference:

USDJPY is approaching our Pivot at 113.315 in line with 200% Fibonacci Retracement and has the potential to dip towards our area of 1st support at 112.446 in line 23.6% Fibonacci retracement and 61.8% Fibonacci extension.

Alternative Scenario:

Alternatively, price may climb up to our 1st resistance at 114.529 which is a weekly resistance.