At the auction on Wednesday, forex Japanese currency more destabilized, resulting in the loss against the US dollar increased, whereas previously, the dollar / yen has recorded a maximum two-day drop in nearly two years. It should also be noted that market participants again turned to riskier assets.
In yesterday's trading, the dollar / yen is consolidating after the recent rally. The pair remained in a narrow side corridor with the boundaries of 104.00-104.90. Resistance is located at 104.50, support - at 103.50.
MACD is positive zone, its histogram remains at current levels, indicating that the market uncertainty. RSI is in the overbought zone, preparing to leave. If the oscillator signal line will go down, it will be a signal to sell.
The tool is located in the 200-EMA, which acts as a strong support for prices. 50-EMA and 100-EMA are below and unfold upwards.
Forecast USD / JPY today
The pair USD / JPY will likely continue to consolidate in the area of 104.50. Not excluded the price increase in the case of the breakdown level of 104.50, Target upward movement will mark 105.30.
Based on materials from Fort Financial Services