analytics6077ef114f64c.jpg

USD/JPY is into a corrective phase, temporary downside movement, after failing to reach 111.00 psychological level and after the amazing growth. The current decline could be only a short-term one.

As you can see, the pair is still located far above the uptrend line, so the outlook is bullish, despite the current decline. USD/JPY goes down below a downtrend line, so it could decline further as long as it stays below it.

USD/JPY will start increasing again after jumping above the downtrend line. A larger decline could be validated only by a drop below the red uptrend line.

Trading Conclusion!

We’ll have a new buying opportunity when USD/JPY jumps and stabilizes above the downtrend line. The first upside target will be at 110.90 former high.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.