Strengthening of the dollar against other currencies after the election of Donald Trump for president of the United States was a slight surprise to the markets. But the real surprise is the scale of this strengthening. On pair USDJPY today is the 13th day of uninterrupted growth. During this period, the USDJPY rose from 101.50 to 113.90 and until this morning there appeared no adjustment.
The level to which arrived today USDJPY 113.90 which is the last obstacle for the demand on the way to a strong resistance, which is at the level of 116.10. However the upward rally of the dollar has been going on for so long that adjustment may occur at any time. Just such an attempt to start a correction is observed for last several hours.
If the level of 113.90 for the USDJPY is not defeated, it will give a green light to start long-awaited correction. Immediate goal will be then supply level of 111.40 and after its breaking – 109.80, 107.00. At the moment, however, it is unclear whether the morning reflection of 113.90 will start a correction, or maybe in a few hours we will observe only long lower shadows on the chart, and the price will return again under the mentioned resistance.
