What happened? Japanese shares fell on Monday…
USD/JPY reversed from support zone
2019-11-11 • Updated
- USD/JPY reversed from support zone
- Next buy target - 111.00
USD/JPY recently reversed up from the support zone lying between the key support level 109.10, support trendline of the daily up channel from March and the 50-day moving average. USD/JPY is expected to rise further toward the next buy target at the next resistance level 111.00 (high of the previous minor ABC correction 2 from May). Strong support remains at 109.10.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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