Technical analysis:
USD/JPY has been trading downside this morning and I found rejection of the upper trend-line, which is good sign for the further downside movement.
Due to the rejection of the 61.8 Fibonacci Retracement and rejection of the trend-line, I see potential for the further drop towards lower references.
Downside objectives are set at the price of 130.90 and 129.75
MACD oscillator is showing bearish reading, which is another good confirmation for the further downside.
Key resistance is set at the price of 132.80
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
USD/JPY has
been
trading downside
this morning and I found rejection of the upper trend-line, which is
good sign for the further downside movement.
Due
to the rejection of the 61.8 Fibonacci Retracement and rejection of
the trend-line, I see potential for the further drop towards lower
references.
Downside
objectives are set at the price of 130.90
and 129.75
MACD
oscillator is
showing bearish reading,
which is another good confirmation for the further downside.
Key
resistance
is set at the price of 132.80
The material has been provided by InstaForex Company – www.instaforex.com
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