USD/JPY first support at 113.25/20 did hold the downside perfectly yesterday and is likely to do so again today as we try to build a short term bull trend. However a break below is a sell signal and targets 112.85/80, perhaps as far as minor support at 112.40/35. Further losses test this week's low at 112.14. Obviously a break below adds pressure and targets 111.90/85.
Holding first support at 113.25/20 again today targets minor resistance at 113.70/75 then 114.00. Above here targets yesterday's high at 114.27 then this weeks high and resistance at 114.50/55. If we continue higher look for 2 week highs at 114.87 but above here this week targets strong 100 week moving average resistance at 115.20/30.