Opinion on the USD/JPY pair

Today, at the European session, the Japanese yen nearly won 200% in lost positions during the Asian trade, against the background of a general weakening of the US currency. Further strengthening of the Japanese currency may slow down, due to the expectation of tomorrow’s preliminary data on Japan’s GDP for the third quarter. See Economic calendar.

Technical analysis: The pair continues to move in a short-term downtrend, which begins on November 6. One should consider the main support levels at 112.95; 112.60; the resistance levels at 113.85; 114.25.

Fig. The graph of USD/JPY pair, current price – 113.35.

Alexander Sivtsov