USD/JPY on the way to resume the bearish bias

USD/JPY on the way to resume the bearish bias

2019-11-11 • Updated

USD/JPY found strong resistance around 112.08 after Fed’s decision to keep rates unchanged at July’s meeting. Such decline coincides with the Fibonacci retracement levels of 61.8% and 50%, which corresponds to the 112.43 and 112.08 levels respectively. If the move continues to strengthen in coming hours, we can expect a decline to take place towards 109.91, at which lies the -23.6% Fibonacci retracement level.

To the upside, the pair could invalidate that scenario with a breakout above 112.53, with the nearest target placed around 112.93. RSI indicator is oversold.

USDJPYmH1.png

Similar

Latest news

UK: No Longer a Leading Economy
UK: No Longer a Leading Economy

The current situation is terrible, and the future is worse for the United Kingdom. Will the British pound withstand the challenges that await the UK economy, or will it collapse?

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera