Type:

Bearish Reversal

Resistance: 113.935

Support: 112.959

Pivot: 113.68

Preference:

USDJPY is on a bearish momentum. Prices have the potential to dip from our Pivot at 113.68 in line with 127.2% Fibonacci extension to our 1st support at 112.959 in line with 127.2% Fibonacci Extension and 200% Fibonacci Projection.

Alternative Scenario:

Alternatively, prices might climb to our 1st resistance at 113.935 in line with 38.2% Fibonacci retracement.