USD/JPY : The Dollar Yen wobbles but does not fall…yet ?

The USD/JPY pair is showing signs of weakening of the bullish trend on the Forex but does not display an acceleration to the downside.

In fact, after that the upward trend has slowed to below the threshold level of 113.20, a period of consolidation horizontal followed between 113.20 and 112.30, before the bracket is not loose.

This break has strengthened the bearish sentiment in the very short term, with a drop as expected down to the first support of 112.00.

However, the decline has been a lack of follow-up, and we got into a triangle with a base station high on the 112.50.

This triangle was broken yesterday, causing a decline to 111.85, but here, too, the decline seems to lack strength, with a rebound above the 112.00 currently.

USD/JPY shows signs of weakening, but the decline is still very progressive, and any fundamental element uptrend seems to be able to revive firmly the rise.

In this regard, it will be necessary to monitor the CPI and retail sales this afternoon.

Below 112.00, the pair could fetch 111.60, before possibly continue on in the direction of 111.00/110.75.

The increase, he will have to break above 112.50 to regain an upward bias and possibly back to the 113.20 in the short term.

The pair USD/JPY is currently trading at 112.10 on the Forex.

Chart USD/JPY H1

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