The US dollar maintains a strong position. The US GDP data

The US dollar maintains a strong position against the basket of currencies after the publication of data on the US GDP for 4 qutr.

• According to published data, GDP growth in the fourth quarter was 2.9%, exceeding the previous value of 2.5%.
• The GDP deflator kept its value at 2.3%, which is lower than the analysts’ forecast at 2.4%.

Technical analysis: The pair USD/JPY during the European session grew by almost 100 points, which was caused by a decrease in the demand for security assets amid a decrease in fears of a trade war between the US and China. At the moment, the pair USD/JPY is trying to gain a foothold above the descending channel on H1, but the main resistance is the level of 61.8 Fibonacci, at 106.27. If the price continues to grow and the price is fixed above the level of 106.27, one should expect its further growth to 107.00, 107.30.

Fig. USD/JPY. The current price is $ 106.16.

Alexander Sivtsov