According to the ICN.com analyst team, “The USD/JPY is now stable above Linear Regression Indicator 34 and 55 as seen on the hourly charts. The possibility of touching the 95.50 levels is valid again, whereas that level represents the long-term ascending wave target that started from 77.11.”
At the time of writing, the cross is recording a decline of -0.07% Tuesday and the ICN.com analyst team points to supportive measures at 93.65, followed by 93.30, and finally 93.05. Conversely, the USD/JPY will meet calculated resistance at 94.85, followed by the 95.00 barrier, and 95.50.
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 securities. 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 Forex 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.