The violation of 1.1250 crucial low signals a reversal of the upmove since 1.1175 lows and the bias is bearish below 1.1280, focused on 1.1175 support.
Yesterday's peak at 1.1260 has finalized the consolidation pattern pattern and the bias is bearish again, for a break through 1.1175 support, en route to 1.1010 target area.
The intraday bias is positive above 1.1170, for a test of 1.1230 area. Crucial on the downside is 1.1140 and dive through that area will signal a renewal of the sell-off towards 1.1015.
Current rise above 1.1130 should be the final leg of the whole consolidation pattern after 1.1110 low and 1.1275 hurdle is expected to cap the upside, for a slide towards 1.1015.
USD/JPY Current level - 110.67
The violation of 111.00 area signals a negative bias, for a dip to 109.70. Crucial on the upside is 111.60.
The current rise should be the final leg of the consolidation pattern above 1.1110, preceding a slide towards 1.1015 area. Trigger on the downside is 1.1175 low. Intraday allow a test of 1.1275 hurdle.
The overall bias remains bearish, as the pair is currently testing 1.2690 support area. A break through the latter is to be expected, for a continuation of the slide towards 1.2580 zone. Initial resistance lies at 1.2760, followed by the crucial 1.2810.
The test of 1.1110 low failed and trading remains caught in the prolonged range, currently aiming at the upper boundary, at 1.1270. Initial support lies at 1.1180.
The pair struggles above 1.1110 low and a violation of that area is to be expected, for a slide towards 1.1015. Initial resistance is projected at 1.1160.
USD/JPY Current level - 108.89
The intraday peak at 109.90 sets the beginning of a new wave downwards, to 107.70.
