Technical analysis and trading recommendations for the USD / JPY currency pair as of May 29, 2018
May 29, 2018 12:21 pm
The USD/JPY currency pair shown an active downward interest and failed to break through the level of 108.50, whereas after the breakout, the quotation quickly rolled back above the level. Now, we can see a fluctuation in the value of 108.85, indicating increased volatility. At the same time, probably assuming that the bulls will try to cling to the current value, keeping the quotation above the level but still maintaining the bearish interest. Thus, I do not exclude that even after a rollback to 109.10 / 109.30 we can again go back to 108.50, where it would be worthwhile to see a clear fixation of the price below it.
Draw your attention: Predictions are not a direct guide to action!
The material has been provided by InstaForex Company – www.instaforex.com
The USD/JPY currency pair shown an active downward interest and failed to break through the level of 108.50, whereas after the breakout, the quotation quickly rolled back above the level. Now, we can see a fluctuation in the value of 108.85, indicating increased volatility. At the same time, probably assuming that the bulls will try to cling to the current value, keeping the quotation above the level but still maintaining the bearish interest. Thus, I do not exclude that even after a rollback to 109.10 / 109.30 we can again go back to 108.50, where it would be worthwhile to see a clear fixation of the price below it.
Draw your attention: Predictions are not a direct guide to action!
The material has been provided by InstaForex Company – www.instaforex.com
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