Currency analyst

USD/JPY: calm before the storm

On the daily chart USD/JPY is consolidating in the 99.8-100.8 area. The break of resistance at 100.83 will allow the correction to continue towards 102.25 and 102.69. If the pair renews August low, this will be a signal of the downtrend resumption and will send the pair to 98.96 and 97.84.

On H1 USD/JPY is finishing a triangle. If the pair rises above the upper border of the pattern and then gets to 100.83, its chances to reach 88.6% target (102) пof the "Bat" pattern will increase. On the other hand, break of support at 99.95 will mean resumption of the downtrend.


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