USD/JPY is preparing for reversal

The USD/JPY pair trades in the sideways trend for the second consecutive day near the significant 112.00 resistance. This level also corresponds to the upper border of the general downward trend for the pair USD/JPY. The signals for reversal will be the pair’s consolidation below the level of 111.80-70, which will open the way to the support levels: 111.00 and 110.80. A return above 112.00 cancels expectations of a decline.

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Hanzenko Anton

 

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