Technical analysis of USD/JPY 05/29/2018

Quotations of the USD/JPY currency pair continue to correct within the rising channel. At this point, we should expect a rebound from the lower border of the channel near the level of 108.40 and the continuation of the pair’s growth above the level of 111.40.
The cancellation of the pair’s growth option will result in a strong fall and breakdown at 109.55, which will indicate the continued growth of the Yen/Dollar pair with a target above the level of 108.00.
Among the important news from Japan, which can influence the rate of the pair USD/JPY, it is worth highlighting: Speech by the head of the Bank of Japan.

USDJPY_STPH4

 

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