USD/JPY slows down the reduction
The pair USD/JPY, despite the general decline of the dollar against the basket of competitors, remains in a sideways trend against the Japanese yen, which is caused by the risks of the yen’s decline and the preservation of the uptrend. Thus, the key level continues to be the level of 111.00, which corresponds to the lower boundary of the upward channel, which has been preserved since June.
The support zone for USD/JPY is 111.00-110.50. Resistance, the breakthrough of which indicates the resumption of growth, are the marks: 111.20-40. The main resistance limiting growth will be the following: 112.00 and 112.40.
Read also: “The Central Bank of Canada – the prospects of monetary policy”
Hanzenko Anton
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