Forex News

Let’s start with the fact that our previous forecast was confirmed at the auctions on Friday the U.S. dollar continued to strengthen against the Japanese yen, but the upward movement has slowed down near the 92.20 level and has started a correction, which is still going on …

USD / JPY

Current price levels are still located above the moving averages with periods of 34, 55, 89 and 144, which is directed upwards and point to the continuing bullish sentiment.

The MACD histogram is located in the positive zone, but their attempts to cross the signal line downwards, and thereby generate a signal to sell the dollar / yen.

Stochastic Oscillator out of the overbought zone and has already formed such a signal, since the beginning of the% K line falls below the% D.

Therefore, we expect that the correction will continue and increase, if it is punctured by the level of support 91.30, which could open the way for the bears to the levels of 90.80 and 90.40.

At the same time we must not forget that the aggressive buyers of the dollar / yen can return to the market, if would be punctured 92.20 resistance level.

Levels of resistance: 92.00/10, 92.50, 92.70, 93.00

Current price: 91.76

Support levels: 91.50, 91.00, 90.70, 90.50, 90.20/00