[FXdudy]

JPY

USD | JPY is traded with a slight increase, which is a technical correction after a long decline. It is possible that in the morning growth of pair will continue because of low volume of trading and lack of holidays in many countries.
Technical analysis shows that after a long time the price can grow up to 111.80 (50% of the downward movement), after that the decline will resume. But America should stop lowering interest rates for such a strong growth. Examining the fundamental analysis in the United States a few more downwards are possible, so this growth is not expected soon.
If we consider this correction of the pair as a temporary and expect further decline, taking into account the movement of the past two months, at the end of March closing price is expected at 99.50 (see chart). Thus, the price has already reached the point at which it will be closed at the end of the month.
Examining technical analysis, sideward trend can be expected for pair USD | JPY before the end of this month. Intermediate support of the price is at around $ 97, and an intermediate resistance is at 104,20 (closure of the previous maximum)