Direction
|
Period
|
Expected price dynamics
|
Price movement corridor
|
↑↓
|
1 day
|
≈145 pips
|
Max. 98.60
Min. 94.00
|
The move to 97.00 was changed into a sharp pullback down, which may mean a continued bearish trend with the target at the support level of 95.00. In addition to the decline in the USD/JPY, the U.S. dollar is still weakening against the major currencies, like the EUR, GBP, AUD and the NZD.
Alternative forecast
Breaching up the resistance level of 97.00 will give the opportunity for short buying at 97.65. Moving to 97.65 will result in consolidation or a rebound to 97.00.
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