• USD/JPY declined sharply on Thursday as uncertainty steaming from political uncertainty in the United States and Europe prompted investors to seek safe-haven assets such as Japanese yen.
   
• Concern over U.S. President Donald Trump's policies, as well as elections in the Netherlands, France and Germany this year kept investors from making big bets on greenback.
   
• The pair remains under bulls control unless until it trades above 112.48 support level, therefore it is good to buy this pair on dips.
   
• To the upside, the strong resistance can be seen at 113.84, a break above this level would take the pair towards next resistance level at 114.17.
   
• To the downside immediate support can be seen at 113.23, a break below this level will open the gates towards next level at 112.85.
  
  Resistance Levels
  
  R1: 113.84 (Session high)
  
  R2: 114.17 (38.2 % Retracement level)
  
  R3: 115.00 (Psychological levels)
  
  Support Levels
  
  S1: 113.23 (50 % Retracement level)
  
  S2: 112.85 (Feb 10th lows)
  
  S3: 112.48 (61.8 % Retracement level)