USD/JPY is consolidating for the last 6 days, forming a Symmetrical triangle just below the 78.6% retracement of 114.48 to 107.30 down trend. Even though the uptrend remains intact, there are repeated rejections above 113.00. The pair is currently trading around 112.68, unable to define a trend ahead of US employment data tomorrow.
Support: 112.40/30, 111.95 [H4 100SMA & 200 DMA] & 111.50
Resistance: 113.00, 113.25 & 113.55
Recommendation: Sell around 112.80, SL above: 113.10 and TP: 112.40 [High Risk Trade – Read Risk Disclaimer Below]