Technical analysis of USD/JPY 07/30/2020

The USD/JPY currency pair is decreasing as part of the formation of a downward channel on the daily chart. At the moment the pair are in the area of the 105.00 level. The technical picture suggests further development of the downtrend with the target in the area of 103.40. Cancellation of the continuation of the decline in this pair will be growth above the area of 108.00, which will indicate a breakdown of the upper border of the channel and MA 100 on the daily timeframe.

USDJPY_STPDaily

Created by Joshua Hayn

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