FX.co ★ Forecast for USD / JPY on February 1, 2019

USD / JPY

The growth of stock markets over the past two days overwhelmed the fears of investors trading in Japanese yen, concentrating on the problems of Great Britain, China, and Italy, and "persuaded" them to return to purchases again. Yesterday, the yen did not achieve a bit in reducing the support of the price channel line (108.27) and turned up. The reversal took place from the zero lines of the Marlin daily scale indicator. After the price leaves the level of 109.15 (minimum on January 29 and 22) a further price increase is possible to the designated target levels on the daily chart: 109.57, 110.42 (key level, as the Kruzenshtern line, runs here), 111.30.