USD/JPY Analysis: Slumps by 0.90%
|USD/JPY
During the previous day trading session, the US Dollar depreciated against the Japanese Yen by 102 pips or 0.90% and was luckily stopped by the ascending dominant pattern line at 112.50 mark.
Most likely, the US Dollar will appreciate against the Japanese Yen to trade near the 61.80% Fibonacci retracement level at the 112.72 mark.
On the other hand, the rate could pass the support of the descending dominant pattern line to trade towards the 50.00% Fibonacci retracement level at the 112.16 mark.
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.