FX.co ★ Forecast for USD / JPY on February 5, 2019

USD / JPY

Japanese Yen vigorously recovers last week's losses. Over the past 2 days, growth was more than 100 points. The growth of the American stock market helps it in this, yesterday the S & P 500 grew by 0.68%, Russell 2000 by 1.23%.

At the moment, the price is above the Kruzenshtern line on the four-hour chart and is trying to overcome the balance line on the daily chart (red). Here, the price may be delayed. A delay may also occur on a stronger resistance of 110.40, where the price channel line and the Kruzenshtern line on the daily chart converge. From this level, a full correction is possible.