USD/JPY
Over the past three days, the situation in the yen market has not changed. Such consolidation plays in favor of further price increases. The first target is the graphic trend line on the 109.50 daily chart. In the future, growth may continue to the next trend line, but already downward price channel in the area of 110.53. This scenario is taken as the main one.
But the risk of a negative scenario also persists until there is pronounced growth. In the case of the departure of the price below the Kruzenshtern line on H4 (107.80), the targets for the Fibonacci retracement levels from the movement of January 3-8 will reopen: 107.34, 106.80, 106.24, 105.54.