On Thursday, the Japanese currency weakened against the US dollar, reaching a minimum of 3 weeks. Investors expect the introduction of further easing by the central bank of Japan. Additional pressure on the yen has had a growth in the stock markets.
The dollar / yen at auction Thursday resumed growth and break the mark 104.50 and 105.30 upwards. After that, the price growth in the left area of 106.00. From this level of tool rolled to 105.30. Resistance is located at 106.00, support - at 105.30.
MACD is positive zone, it increased the histogram, indicating the strengthening of customer positions. RSI is close to overbought. If the oscillator signal line will go down, it will be a signal to sell.
The pair rebounded from the 200-EMA, which acts as a strong support for prices. 50-EMA and 100-EMA are below the prices and unfold upward, which is a signal to buy.
Forecast USD / JPY today
There is a possibility of formation of the consolidation of USD / JPY at current levels, then the price can be adjusted downwards. Target correction level is 104.50.
Based on materials from Fort Financial Services