Technical Analysis USD / JPY 12.04.2017
The dollar yen in the Asian session Forex continued to decline to the level of 110.40. In the forex trading opened in Europe bulls went on the attack and the price of USD / JPY corrected to support 110.70. output statistics from the United States could not support the US currency, and under the pressure of a pair of bears continued to decline steadily, first to the level of 110.40 and then steadily breaking 110.15 resistance sellers lowered their dollar quotes in the area 109.60-70
On the daily chart, the dollar, the yen broke through the support
Technical outlook USD / JPY and recommendation 12/04/2017
The dollar yen confidently broke through support 110, 10, and stopped trading at 109.70. Traders should not expect continuation of decrease in pair after the correction of the pair to the resistance to the 110.10-20 109.70 to 108.80 and below. It is also possible to reduce the dollar yen pair from the current levels. Alternative players should consider the breakdown and fixing prices above the level of 110.10-20, in this case, the pair may extend gains to 110.70-80
Analytics specifically for Forex Site Specific
Prepared MIK
Analytical Review and forex forecast is a private opinion of the author and is not a guide to trading. Special Forex is not responsible for the results that may arise from the use of trading recommendations submitted reviews.
