Extremely interesting situation is currently on USDJPY. On the one hand resistance has been broken at the level of 104.00 and is on the highest level from July 27th. On the other hand the price approached the upper limit of the upward channel, inside which it moves from early August. The level at this time is in the region of 105.00. This area may trigger a correction for which further support are at levels: 104.00, 103.00, 101.50, 99.80.

In the longer term the situation remains bullish and possible correction (only when it does not break the support 99.80) will not change it. On the daily chart USDJPY is seen a clear breakthrough which was defeated the downward trend line in October. Currently in addition to the the broken line appeared on the chart also characteristic pattern of higher peaks and lows. The whole picture is already showing a clear reversal of the previous downward trend and in the longer term after completing undergoing correction  the situation should remain positive for the demand.Wykres dla interwału H4.

Wykres dla interwału D1.

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