Expectations from the USD/JPY pair

Recently, because of the political risks in Japan and the widespread strengthening of the US dollar, the pair USD/JPY markedly accelerated growth, thereby casting doubt on the safety of the downtrend that was seen since the end of 2015.

Given the fundamental factors and significant overbought of this pair, the formation of a correction is possible from the level of 114.00-20 to the support levels: 113.30-20 and 112.90. These levels are a significant support, the breakthrough of them will indicate the return of the pair to a downtrend. In addition, fixing the price above psychology 114.00-20 will open the way for bulls to resistance levels: 114.50 and 114.90.

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Hanzenko Anton