Forecast for the currency pair USD / JPY (20.01.14)

Analyzing the currency pair USD / JPY is observable that the price on Thursday and Friday price Wier bars with a small amplitude was fixed above the PPZ zone (Pivot Point Zone - Zone where support / resistance to change each other ) , which advocates support for the currency pair. Probably , the uptrend has been activated pattern Price Action on the level of 102,85 - DBLHC- pattern (Double Low High Close pattern) - Bars with the same bases and higher closing of the last bar , which was formed from a strong support zone indicated on the chart by a green rectangle . The blue rectangle shows that previously formed the price consolidation at this price mark , which reinforces the importance of this support zone . Would expect continued growth . Conservative input for purchase - at the breaking up of the inside bar on Friday and costs 104.50 . The purpose of the previous maximum - to mark 105,40 .

Fundamentally, the U.S. dollar looks stronger than the Japanese yen , as market participants expect continued deceleration of quantitative easing by the Fed, other than that - last week for the U.S. fundamental statistics was in the green zone . Japan currently does not demonstrate significant economic growth, the economy is growing at a moderate pace , the Bank of Japan intends to continue the program of quantitative easing.

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