USD/JPY remains in the correction phase

From the start of the year the USD/JPY pair remains in the correction phase after the pre-New Year decline. The reason for the correction was made by the growth of optimism in the stock markets and the reduction of geopolitical risks. Technically, this pair has broken downward dynamics and is preparing to develop a deeper correction.

The USD/JPY purchase zone is located at levels: 108.50-70, breaking through which will open the way to resistance levels: 109.20 and 109.50. Support levels are located on the marks: 108.20 and 107.80, updating of which cancels expectations for strengthening.

Read also: “Decline in the crypto-currency market. Collapse or Transformation?”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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