The US Dollar was in a major uptrend before it faced a strong barrier near 113.00-113.10 against the Japanese Yen. The USD/JPY pair declined sharply and broke the 112.00 support area. Looking at the 4-hours chart, the pair fell below the 112.40 and 112.00 support levels. During the decline, the pair broke a major bullish trend line with support at 111.50. The pair dipped below the 50% Fibonacci retracement level of the last wave from the 109.36 low to 113.17 high. Moreover, there was a close below the 111.80 pivot level and the 100 simple moving average (red, 4-hours). However, the decline found support near the ... (full story)