USD/JPY is near a strong support

The USD/JPY pair approached a significant support at 108.10-00 after the rapid decline in the US dollar and increased risk in the market. In addition to the strong oversoldness of this pair, it corresponds to the lower boundary of a three-month downtrend. From this level we can expect the formation of a reversal.

Deals for buy should be considered when confirming the upward movement and consolidation above 108.30-40.

Significant support are marks: 108.10 and 107.80. Resistance and goals  are located at marks: 109.00 and 109.30.

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Hanzenko Anton

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