Technical analysis of USD/JPY 05/23/2019
Quotes of the USD/JPY currency pair resumed their decline after a five-day upward correction to the level of 61.8% on the Fibo grid. At the moment, we can expect a decline to the level of 109.00
In favor of reducing the pair USD/JPY, there is a rebound from the level of 61.8% of the Fibo grid, the breakdown of the lower boundary of the ascending channel coinciding with the MA100 on the 1N timeframe.
Cancellation of pair decline will rise above the level of 110.70 (61.8% Fibo), which may indicate a downward reversal and the development of an upward trend on larger timeframes.
Created by Joshua Hayn