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.

Read also: “The cryptocurrency market continues the growth data on Libra”

Hanzenko Anton

---

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

Topical articles of the trader’s blog:

1. Increased transportation costs: a driver for rising oil prices
2. An uncertainty about Brexit is increasing
3. Aggravation of the US – eurozone trade tension 

Current Investment ideas:

1. One more opportunity to earn in October! Sell ​​#CAT shares now!
2. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!
3. Technology giant Microsoft is getting ready to storm new highs! Let’s make money on it!