Rising risks support the Japanese yen
The growth of pessimism on the stock indices of the Asia-Pacific region and on the stock markets of Europe indicates the soon flight of investors from risks, which will positively affect the course of the Japanese yen. The main factors for risk growth are weak inflation data in China, aggravation of the US-Eurozone trade relations and a general slowdown in the global economy.
The most significant strengthening of the yen is expected against the US dollar and the British pound, which, in turn, depends on fundamental factors, such as the political situation in the United States and the promotion of the Brexit deal.
Sales for the USD JPY pair should be considered on the rebound of the pair from the upper boundary of the downward channel and consolidation below the level of 111.00-10.
The goals are located at 110.60 and 110.40, resistance: 111.20 and 111.40.
GBP JPY also maintains a downward trend.
Deals for sale should be considered below 145.00-144.80.
The goals are located at the levels: 144.40 and 144.00, resistance: 145.30 and 145.50.
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Hanzenko Anton
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