Much has happened today in the world of politics which translated also into volatility in the world of finance. Exchange rates took quite clear directions, the US dollar weakened, pound rose in strength. Theresa May gave us some details how will Brexit look like and supported pound, Trump with his further ideas for the presidency and statement of Trump adviser Scaramucci saying that care is needed on rising US dollar, made greenback weaker.
Technically coming to charts you can expect further declines in USDJPY at around 38.2% Fibo correction and a fairly strong resistance 111.40. Soon, the pair can move in a range between 23.6% and 38.2% – 111.40- 114.20.
I am waiting for SELL signal, which may perhaps appear at around 113.00.
Pound was today strongly bullish and made 400pips . There is still some 60-70 pips left to reach the upper limit of a bearish channel , than we can expect some struggling with that level. And if the trend line is successfully broken- we can expect move up to 1.2510 where we have a rather strong resistance.