The Japanese yen is consolidating on the ascending line of the price channel for the third day. To date, the balance line and the Krusenstern line of the daily timeframe have become supports. These will help the price to overcome the resistance of the Krusenstern line on the lower four-hour scale. Overcoming this resistance will allow the yen to attack the resistance of the line embedded in the price channel at the region of 115.05 with new forces.
The negative scenario may turn around after the price leaves below the low of November 20 (112.32). Then, the target 112.12 will gain relevance.
The material has been provided by InstaForex Company – www.instaforex.com
USD / JPY
The Japanese yen is consolidating on the ascending line of the price channel for the third day. To date, the balance line and the Krusenstern line of the daily timeframe have become supports. These will help the price to overcome the resistance of the Krusenstern line on the lower four-hour scale. Overcoming this resistance will allow the yen to attack the resistance of the line embedded in the price channel at the region of 115.05 with new forces.
The negative scenario may turn around after the price leaves below the low of November 20 (112.32). Then, the target 112.12 will gain relevance.
The material has been provided by InstaForex Company – www.instaforex.com
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