USD/JPY technical analyse 4th November

Pivot: 112.3

Our preference: Long positions above 112.3 with targets @ 114.7 & 115.9 in extension.

Alternative scenario: Below 112.3 look for further downside with 111.45 & 110.5 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:

116.55

115.9

114.7

113.55 Last

112.3

111.45

110.5

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