USDJPY is in a correction after checking the local support level.
The US dollar is currently in a correction, but is likely to continue the trend down.
USD/JPY: market consolidating along Moving Average
The market is still consolidating along the Moving Average. The main intraday target is the lower 'Window' (110.94). A pullback from this level could be a starting point for another bullish price movement.
The last 'Shooting Star' led to the current decline. It's likely that the pair is going test the next support at 110.94. If a pullback from this level happens next, there'll be a moment for an upward price movement in the direction of the closest significant resistance 111.74.
Galya Svetlova
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Latest news
USDJPY is in a correction after checking the local support level.
The US dollar is currently in a correction, but is likely to continue the trend down.
USD/CAD faces some difficulties
USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
The outlook for the GBP
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?
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