USD/JPY has moved to the lower side of the small consolidation range and is currently trading at 112.91. The intraday support levels are at 112.77 and 112.61. The near-term resistance areas are at 113.23 and 113.49.
On the intraday charts, the pair is now keeping below the SMA-14 which is at 113.62. The current price is trading near the SMA-50 (111.95) and a move below this level will further extend the downside. The RSI is at 47 and appears flat while the MACD remains above the zero line. The intraday and 4-hourly price patterns are bearish and favor selling entries near 113.00 with a target of 112.55 and a stop-loss at 113.40.
