USD/JPY: ourlook for Feb. 27 - Mar. 3
USD/JPY formed a lower interim top just below 113.80. In fact, this top consists of 2 highs, and the second one is lower than the first. Below Feb. 12 low at 112.60 the pair is extremely vulnerable to a decline to 111.70/60 (100-day MA, top of the weekly Ichimoku, February lows, 38.2% Fibo of September-December advance). A decline below this are will open the way for a deeper fall towards 110.00. Resistance is at 113.00, 113.20 and 114.00.