Currency analyst

USD/JPY: bears don't hurry to consolidate their gains

On the USD/JPY daily chart, after the 88.6% target in the Bat pattern had been reached, there was a rebound. At the present time, there is a consolidation in the range of 100,55-101,35 (61,8-78,6% Fibonacci from the XA wave). If the yen goes beyond this limits, it will determine the direction of further movement.

On the USD/ JPY hourly chart, quotes are moving within the descending short-term channel. The tendency is still "bearish". If the sellers return to the support at 100.55 level and test it successfully, the risks of attaking the 98 level will increase.

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