The price of usd/jpy is not able to break up
The price of usd/jpy is not able to break up the static resistance. This because of the macro scenario we can find around the us economy. We can find the minor one around 111.90. From here it is channeled again into a very short/short-term downtrend. That should bring it back to test the dynamic support area. As this movement is one of the most common in this technical scenario. That level coincides with the EMA 200 weekly and passing periods for the approximately 109.90.
Moreover, following the macroeconomic scenario that is taking shape on the US dollar, it is very likely that this trend ends on the static support. In this situation we need to be ready to open a new order as a big opportunity, we can identified this level on the 61.8% of the Fibonacci retracement at an altitude of 109.3. In fact, with the FOMC minutes which were published yesterday and the monetary policy that will be declared at the next meeting of the FED this will certainly remain unchanged. This policy could not even modified to make it more expansive (favoring the pressures of Trump and the markets).
Analysts expect a slight short-term devaluation by the US dollar against other majors. In the medium term, is expected a lot of laterality on the major pairs. The USD against the Yen should remain within this lateral channel. This is formed by the support area set at 109.3 and the resistance set at 112.4. Unless there are sudden changes in the scenario, this is what is expected on USDJPY until the end of the first half of 2019.
Moreover, following the macroeconomic scenario that is taking shape on the US dollar, it is very likely that this trend ends on the static support. In this situation we need to be ready to open a new order as a big opportunity, we can identified this level on the 61.8% of the Fibonacci retracement at an altitude of 109.3. In fact, with the FOMC minutes which were published yesterday and the monetary policy that will be declared at the next meeting of the FED this will certainly remain unchanged. This policy could not even modified to make it more expansive (favoring the pressures of Trump and the markets).
Analysts expect a slight short-term devaluation by the US dollar against other majors. In the medium term, is expected a lot of laterality on the major pairs. The USD against the Yen should remain within this lateral channel. This is formed by the support area set at 109.3 and the resistance set at 112.4. Unless there are sudden changes in the scenario, this is what is expected on USDJPY until the end of the first half of 2019.
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