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Forecast for USD / JPY on January 30, 2019
The Japanese yen very calmly met the news about the reluctance of the magnificent British parliament in order to mitigate the delay on the consequences of the Brexit. Movement occurred between the level of 109.212 – January 16 maximum – and the Krusenstern line on a four-hour scale. On the daily chart, the resistance was at the line of the price channel, under which the yen consolidates the third day. The growing main indicators of Marlin on the graphs of both scales indicate the intention of the market to continue the upward trend. We are waiting for the price to rise to the resistance of the falling price channel line at 110.47 daily, which almost coincides with the resistance of the Krusenstern line on the same chart. Overcoming the level will allow the price to accelerate growth through intermediate resistance 111.38 to 112.92.
The material has been provided by InstaForex Company – www.instaforex.com
