USD/JPY at the threshold of double-top development.

After the annual movement of the pair USD/JPY in a restrained downtrend, this pair is traded with a decrease, remaining under pressure of possible risks and weakness of the American. In turn, after almost a week decline in the pair USD/JPY, on the H4 timeframe the figure “double top” was formed.

The start of the development of this figure should be expected when the pair is consolidated below 112.00, which will be confirmed by the resumption of the general downward trend and will open the way to the support levels: 111.30-00 and 110.80-70. Returning a pair above 112.30-50 will slow the development of the figure.

Fig. USD/JPY H4. The current price is 112.20.

Hanzenko Anton