USDJPY – Last week I wrote about this pair in the context of the expected downward correction. The predictions become a fact, and since then the quotes have already dropped by 80p. The declines reached the line of the short-term upward trend, lasting since the beginning of September, which was a natural support for this pair.
Currently, on the D1 chart, the maximum on the MACD appeared and the indicator started to decrease, which may indicate that the correction will last for some time, and the quotations in the case of effectively overcoming this trend line may fall to the next support at 112.75-85. However, always remember that since March this year it is in a long-term strong upward trend and if the support is defended, the price may return to increases.