Technical analysis of USD/JPY 09/12/2019

The USD/JPY currency pair is currently consolidating in the zone 108.00-108.20, which coincides with the upper border of the downward channel and parallel to it (MA100) on the 1D timeframe.
In this regard, there is reason to assume a reversal after an upward correction and the resumption of a downward trend in the channel below the level of 104.50 directly from current levels.
Cancellation of the option of falling USD/JPY pair will be the continued growth of the pair above 109.50, which will indicate a breakdown of the upper border of the downward channel and (MA 200) on the 1D timeframe.

USDJPY_STPDaily

 

Created by Joshua Hayn

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