USDJPY – new week, new low

There is a black scenario in game at USDJPY and today price reached 14-months low. It have to be noted that such scenario was indicated in the last week’s analysis. I wrote: “Currently price should continue previous declines. Nearest support is at 116.70 but even this year’s low at 116.10 could be tested”.

Demand is weak and support at 116.10 wasn’t defended. Nearest supports are at 114.00, 112.30. However it is likely that even support at 109.80 may be tested. Chance for a demand is dynamic rebound and return above 116.10 which is currently unlikely.

Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency. FxGrow launches new feature packed Website with technical analysis and economic calendar.

Time-frame D1