Aggressive dollar / yen sellers could return to the market

To begin with, that our prediction was confirmed yesterday – the breakdown of the level of resistance 90.80, resulted in increasing bullish sentiment and the growth of quotations in the region of local maxima, but near the 91.50 level upward movement has slowed down and began selling the dollar / yen, which are still going on …


Now look at the indicators:

Exchange rate is below the moving averages with periods of 89 and 144, which are strong levels of support for 90.90 and 90.20/00, but above average with periods of 55 and 34 – resistance levels 91.20/30 and 91.50 respectively.

The MACD histogram is located in the negative zone, began to decline in the near future may cross its signal line downwards, and thereby generate a signal to sell the dollar / yen.

Stochastic Oscillator is in the neutral zone and has already formed such a signal as the% K line crossed the line% D top-down and start to fall below it.

Therefore, as a confirmation that the market can return the aggressive sellers of dollar / yen, it remained only to wait for the breakdown level of support to 90.90/80, which could open the way for the bears to the levels of 90.20/00 and 89.40.

Resistance Levels: 91.00, 91.30/50, 91.80, 92.00/10, 92.50, 92.70, 93.00

Current price: 90.96

Levels of support: 90.90/80, 90.50, 90.20/00, 89.70, 89.50, 89.30, 89.10/00