USD/JPY Full Bearish Continuation Below 111.63
The USD/JPY has formed a possible bearish continuation pattern if it closes below the W L3 support at 111.63. However, a correction is still possible.
A bounce from the W L3 is not a surprise as camarilla pivots are deadly accurate in predicting u-turns and bounces. If the price breaks above the ascending trend line and W H1 at 112.40 we might see 112.79. A close below 111.63 is needed for a continuation towards 111.05 and eventually 110.26 which isn’t very likely at this point.