The pair USD/JPY slows down its upward movement and must break above 113 to continue.
In fact, after moving in a range at 111.60/112.50, USD/JPY has managed to break above the resistance, to move to the next area 113.
However, the pair blocks in this resistance and enters a new phase of consolidation between 112.50 and 113.20.
A break of more solid and sustained above the 113 could boost the upside in the short term, to target a return in the direction of 114.30/114.50.
It will still need to pay attention to the obstacles intermediaries to 113.50 and 114.00.
Has the downside, a break below 112.50 may strengthen the correction in the direction of 111.60, while a break below this threshold could lead to a downward movement more solid.
The trend remains to the upside at this stage and it is necessary to avoid a return to below the 111.00 continue to target the upper range of the medium-term to 114.30/50.
The pair USD/JPY is currently trading at 112.70 on the Forex.
Chart USD/JPY H1