USD/JPY Analysis: Falls to 111.10
|In line with expectations, a release of data on the US Durable Goods Orders as well as the Fed Meeting Minutes only bolstered the breakthrough through the monthly S1 at 112.05. In result of the downfall, the Dollar lost 0.8% against the Yen and was stopped only by the bottom boundary of the currently active descending channel near the 111.10 mark. As the pair still remains within the pattern, the buck is expected to start a gradual recovery. But to due to beginning of the Thanksgiving holidays and reduced liquidity the surge might be postponed even until the next week. To put it differently, this trading session the currency pair is likely to spend fluctuating between the weekly S1 at 111.40 from the north and support near the 111.10 from the south.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.