USD / JPY pair
In the past two trading days, the yen added more than 80 points and almost reached the MACD trend line on the daily chart. Today is a holiday in Japan and investors completed the week on an optimistic note. But the situation on the stock market and the overall political situation in the world give little scope for continued growth.
At the moment, there has been a correction from the resistance of the trend line on daily, we expect a decrease to support the balance line to the level of 111.56, which coincides with the MACD line on H4. The fastening under the line will mean the further intention of the price to decrease and the target will be 110.30, which is the support of the trend line of the falling price channel on the daily chart.
The material has been provided by InstaForex Company -
www.instaforex.com