USD/JPY broke resistance zone

USD/JPY broke resistance zone

  • USD/JPY broke resistance zone
  • Next buy target - 112.00

USD/JPY opened today with the upward gap which broke through the resistance zone lying between the key resistance level 110.90 (which has been reversing the price from the start of August) and the 50% Fibonacci correction of the previous sharp downward impulse 1 from the start of July. The breakout of this resistance zone accelerated the active minor correction 2. USD/JPY is expected to rise to the next buy target at the next resistance level 112.00 (forecast price for the termination of the active correction 2).




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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