HomeContributorsTechnical AnalysisUSD/JPY Decline Likely To Continue

USD/JPY Decline Likely To Continue

On Tuesday, the US Dollar declined by 41 pips or 0.37% against the Japanese Yen. The currency pair tested the lower boundary of a descending channel pattern during yesterday’s trading session.

As for the near future, the exchange rate could continue to edge lower. A breakout through the lower boundary of the descending channel is likely to occur within this session.

However, if the channel pattern holds, a surge towards the 100– hour simple moving average at 109.47 could be expected during the following trading session.

 

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Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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