Economic condition of Japan was described the publication of indicators yesterday. Export of goods volume has become higher since the previous publication, and the volume of imports of goods - is significantly lower. The yen should immediately be strengthened, but it turned out that the total balance of foreign trade is almost two times lower than the previous indicators, and it revived the bearish sentiment. After a couple fixed above the resistance level of 119.88, it left in no doubt about the uptrend.
The main scenario: The currency pair shows a favorable condition for the formation of purchases to the resistance level 121.80, with the addition of the levels of 120.28 and 120.67.
Alternative scenario: The prevailing uptrend and it may leave the bears out of business, but it's expected to publish data on the primary benefits, and if the rate increase, the currency pair can form a partial sell signal from the support level 119.40, with a continuation to the level of 118.59 and below.
Resistance levels: 121.80, 120.67, 120.28.
Support levels: 119.40, 118.59.
The main scenario: The currency pair shows a favorable condition for the formation of purchases to the resistance level 121.80, with the addition of the levels of 120.28 and 120.67.
Alternative scenario: The prevailing uptrend and it may leave the bears out of business, but it's expected to publish data on the primary benefits, and if the rate increase, the currency pair can form a partial sell signal from the support level 119.40, with a continuation to the level of 118.59 and below.
Resistance levels: 121.80, 120.67, 120.28.
Support levels: 119.40, 118.59.
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