The USD/JPY pair has been trading lower since Thusday, the 29th of March, with the price moving from 113.79 down to 112.10.
Today, the pair initially advanced up to112.46 and then dropped at 112.10, but as of writing the price is trading at 112.43.
In the event that the sellers keep pushing lower and the price breaks below 111.96, profit targets could be locked in at 111.52.
On the other hand, in the scenario where the price advance and rise above 112.76, the pair could go up to 112.95 and 113.16 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.