The currency pair USD/JPY demonstrates an increased volatility, decreasing from the beginning of the week for more than 130 points, without any solid rollbacks. Now we see how the quotation already closely approached the range level of 108.00 (108.50 / 107.80), where it repeatedly felt support. It is possible to assume that the current value will serve as a support for the market, providing an opportunity to form a stop and as a fact a correction. In the case of coincidence of the forecast, it is possible to expect the reverse movement to the values of 109.20 / 109.50.
But the traders also should take into account that if the "bear" interest does not fall, then we are likely to tighten in the tightness of 108.20 / 108.65.
Key levels
Resistance zones: 110,00; 111.00; 112.00; 114.40
Support zones: 108.00 ((108.50 / 107.80)); 106.80
Signals
- Buying a pair is recommended to be made at a price of 108.90, with the prospect of a move to 109.20 / 109.50.
- It is recommended to sell a pair at a price below 108.50, with the prospect of a move to 108.20 / 108.00.
Attention: Forecasts are not a direct guide to action!