USD / JPY pair
Yesterday's Fed decision to lower the rate by 0.25% saved the dollar from falling to 108.28 instead of aggressive expectations of some market players by 0.50%. At the same time, it assures Jerome Powell about further actions depending only on economic data as allowed in our past review. The USD/JPY pair continued to grow this morning, even more actively with the breaking of the "bearish" technical prerequisites. Note that the price has reached and least on May 13 important technical level level of 109.03, which is approximately maximum on July 9.
The immediate goal is the resistance of the nested line of the red price channel at 109.64. Fixing above the level opens the second target of 110.66, which is the resistance of the green price channel. On the four-hour chart, the reversal occurred from the red indicator balance line and Marlin's signal line went into the growth zone. We look forward to continued growth of the pair.
