The USD/JPY did not reach the 138.40 price channel line. Yesterday’s speculative rise in counter-dollar currencies prevented it from doing so. In the main scenario, I believe the USD will get stronger once the Federal Reserve announces its monetary policy. Up to that moment the price can easily reach the support of 135.40. Further, I am waiting for one more wave of growth to 138.40.
Overcoming the resistance will open the target at 139.40, above it there is another target at 140.35. If it fails to reach the support level of 135.40, the price will try to push through 134.40 as well.
On the four-hour chart, the Marlin oscillator, which has already entered the area of downtrend, helps the price reach the target of 135.40.
The 135.40 level coincides with the MACD indicator line, which supports it. This circumstance indirectly supports the development of the main bullish scenario. The market will make its final decision at today’s Fed meeting.
The material has been provided by InstaForex Company – www.instaforex.com
USD/JPY
The USD/JPY did not reach the 138.40 price channel line. Yesterday’s speculative rise in counter-dollar currencies prevented it from doing so. In the main scenario, I believe the USD will get stronger once the Federal Reserve announces its monetary policy. Up to that moment the price can easily reach the support of 135.40. Further, I am waiting for one more wave of growth to 138.40.
Overcoming the resistance will open the target at 139.40, above it there is another target at 140.35. If it fails to reach the support level of 135.40, the price will try to push through 134.40 as well.
On the four-hour chart, the Marlin oscillator, which has already entered the area of downtrend, helps the price reach the target of 135.40.
The 135.40 level coincides with the MACD indicator line, which supports it. This circumstance indirectly supports the development of the main bullish scenario. The market will make its final decision at today’s Fed meeting.
The material has been provided by InstaForex Company – www.instaforex.com
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