USD/JPY is near significant resistance

The USD/JPY pair on risk reduction has moved to growth after a decline. Despite the strengthening of this pair, the risks of a slowdown in the US economy remain, as well as market fears regarding a trade war remain.

Under the conditions of downtrend preservation and renewed risks in a trade war, the USD/JPY pair is expected to form a downward reversal. The reversal should be expected in the range of 110.00-109.80.

Deals for sale are considered in the range of 109.80-70.

Fixing a pair above 110.00-20 cancels expectations for decline. These levels act and stop losses. Goals and support are located on the marks: 109.30-109.00.

Read also: “Elliott Waves – An Introduction.” Basic Concepts

Hanzenko Anton

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