USD/JPY maintains a potential for growth

The USD/JPY pair has been trading in the flat from the start of the week, indicating the possibility of correction after growth. At the same time, this pair remains overbought on lower timeframes, which does not exclude the possibility of correction to support levels: 109.40 and 109.20. This support also acts as the lower boundary of the ascending channel, from which a rebound is possible. Significant resistance, which limits further growth of the pair, is located at the levels: 109.80 and 110.00, the breaking through of which will indicate the resumption of growth of the pair and the ability to test resistance levels: 110.60 and 110.90.

Read also: “Moving Averange as an indicator for determining the strength of the trend ”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. Long-term investment in currency pairs! The EUR/JPY pair!
2. Geopolitical risks for the beginning of 2019! (Part 3)
3. Long-term investment in currency pairs! The GBP/USD pair!

Current Investment ideas:

1. Intel Microprocessors for Macro Earnings at the Stock Exchange! Connect!
2. Fabulous profit at Walt Disney shares in January!