Currency pair dollar / yen (USD / JPY) forex trading on Tuesday showed a sharp increase in economic According to statistics from the Land of the Rising Sun, household spending fell last month by 0.5% year on year, although the expected decline of 0.9%. By bullish investor sentiment around the greenbacks and added the strong report on US consumer confidence.
Current situation USD / JPY pair traded near 3-week highs. Bullish momentum has received new strength and growth accelerated couples. On the 4-hour MACD and RSI chart found in the flat in the positive zone. Price moves north from the 200 EMA. At the auction there is some risk of the correction. Resistance is located at 103.50, support - at 102.50.
Forecast exchange rate USD / JPY today the level of loss of 102.50 points to a continuation of the uptrend.The level of 103.00 will make the first target buyers. However, the USD / JPY pair is overbought, and it is possible to expect development of correction. In case the instrument, Target sellers will mark 101.40.
Research Fort Financial Services