Type: Bearish Reversal

Support: 110.399

Resistance: 110.802

Pivot: 110.682

Preference:

USDJPY is approaching our pivot at 110.682 in line with 161.8% Fibonacci extension. Price may potentially experience a dip to our 1st support at 110.399 in line with 127.2% Fibonacci extension and graphical swing high.

Alternative Scenario:

Alternatively, If Price Breaks Our Pivot, It May Potentially Go Higher Towards Our 1st Resistance At 110.802.