USD/JPY Downtrend-Sell to 111.803
Good morning to all. Here's my thoughts about the current movement on USD/JPY. I would look to enter the trade around 112.397 on a Sell. 112.518 is my current resistance and 112.326 is my support. I believe the price will continue to move down in a BEARish trend as the Buyers are running out of buying strength to push the price back up. I do believe this current hour will close in a buy as Buyers attempt to push price up but will run out of buying power. 112.326 support will show strong enough to hold for a couple of hours and then it will give way to the Bears overwhelming selling strength.
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