FOREX FORECAST FOR 12 JULY

FOREX FORECAST FOR 12 JULY

12 July 2017, 10:12
Real Trade
0
61

USD/JPY

The pair managed to overcome resistance level of 114.36 yesterday and tested the maximum in the area of ​​114.49. However, the breakout was false and the pair returned to the range below 114.00 by the end of the day. An anti-risk sentiment and a decrease of U.S. government bond yields became an additional reason for selling the dollar against the yen, and the technical factors fastened the process.

Today at the Asian session the yen has rose in price by 0.45% against the dollar. The first local support of 113.30/00 could restrain the development of the downward dynamics, at least until Yellen's speech in Congress.


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