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USD/JPY
In the last review of the Japanese yen, we believed that a retest of the low of December 20 could occur, but another breakthrough of the stock market before the Western Christmas drew the yen closer to the support of 110.05 – the low on August 18, tops on may 10, 2. But the observed price squat allowed to form an increasing convergence of the price with the oscillator on the H4 chart.
The yen, having moved away from the balance line on both scales, is now experiencing exhaustion. To accumulate strength for further price growth, it is necessary to gain a foothold above the level of 111.40 – this is the low on October 26 and the high on May 21. The current situation is not trading, we are waiting for developments.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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