Technical analysis of USD/JPY 02/04/2019
The pair continues to move within the upward correction. Moving averages indicate a downward trend. At the moment, we should expect an attempt to grow and test the resistance level near the area of 110.30. Then a rebound and the continuation of the fall of the pair to the level of 104.50.
In favor of the pair fall stands the test of the downward trend line on the RSI indicator. As well as a rebound from the upper boundary of the descending channel. Cancellation of the option to reduce the pair USD/JPY will be a strong growth and the breakdown of the 112.00 area. This option will indicate the breakdown of the upper boundary of the channel and the continued growth of the pair.
Created by Joshua Hayn