The USD/JPY lost its ground above 113.00 after US president Trump’s comments regarding rate hikes. Currently, the POC zone is 112.05-17. There is also an ascending trend line that is holding the trend in place and serves as the additional confluence. A bounce from the POC targets 112.77 and 113.07. Only above 113.20 we might see 113.60.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
