USD / JPY
Unfortunately, the yen could not hold on to its technical support due to the pressure that it has been experiencing brought about by the weakening of the dollar on Friday (-0.66%) as it fell by 75 points. Today, the Krusenstern trend line has been opened on the daily chart. The Marlin oscillator is in the zone of negative numbers; and there are no reversal signs on the four-hour chart. Formally, the situation is somewhat more complicated than formal signs.
The yen is now driven by the Chinese market, which in turn, is optimistic about the continuation of negotiations with the United States on trade.Today, the China's stock market growth leader is - (China A50 0.72%), the Japanese Nikkei225 is also growing: 0.46%. Moreover, growth occurs when there is weak data on the trade balance; taking into account seasonal fluctuations. The October balance deteriorated from -0.14 trillion yen to -0.30 trillion yen. The total balance collapsed from 131 billion yen to -449 billion yen. Tomorrow, good construction data can be released in the USA. We are waiting for the growth of the stock market and the growth of the yen. And if the price of the candle closes above the Krusenstern line on the daily scale today, that is, above the opening, then this will be a classic false support breakdown. We are currently waiting for the development of the situation.
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