The USD/JPY has fallen due to the announcements made by US central bankers. Namely, the rate has bounced off the 109.00 mark and plummeted below the 108.00 level
On Wednesday, constant attempts to pass the 109.00 level continued and failed.
On Tuesday the pair bounced off the resistance provided by the 109.00 mark.
The USD/JPY is trading sideways and about to be squeezed in on the hourly candle stick chart.
The biggest surprise about the USD/JPY is that the descending pattern used as a guide before the holiday season was still actively guiding the pair.
After touching the 111.80 level the USD/JPY began a surge, which revealed two additional patterns on the currency exchange rate's charts.
The decline of the USD/JPY is taking place because of the US Federal Reserve.
As the USD/JPY was awaiting the FOMC rate hike, the currency pair continued to decline.
The USD/JPY is declining as expected. Although, the fall of the pair is much larger that it could have been forecast.
After reaching the 113.50 mark the USD/JPY began a decline , which by the middle of Monday's trading had passed all close by support levels.
The short version of everything below is - if the pair breaks the resistance at 113.60-113.70, it is highly likely going to surge up to the 114.40 mark.
USD/JPY has resumed its surge and reached above the 113.40 level.
The surge of the USD/JPY reached the 113.40 level before retracing dowanrds back to the levels near the 113.00 mark.
By the middle of Tuesday's trading session the rate had pierced trough a strong resistance cluster near the 112.70 mark.
The USD/JPY has pierced the support line of a dominant ascending pattern, signalling that the USD/JPY is set to decline in the near future.
By the middle of Thursday's trading session, the USD/JPY continued to trade near the lower trend line of a dominant large scale ascending pattern.
The drop of the USD/JPY was stopped by the lower trend line of the most dominant, largest ascending channel pattern's support line.
The USD/JPY was plummeting on Tuesday, breaking technical charts.
On Monday, the USD/JPY surged up and broke last resistance levels on the daily chart before the 114.00 mark.
The most notable fact noticeable on the USD/JPY charts is that the technical trend lines are holding.
After touching the 114.00 level the USD/JPY currency exchange rate began a retreat downwards.
The surge of the USD/JPY continues, as it gains more and more.
The rate has managed to pass the 113.40 region, where previously it was stopped by a weekly pivot point.
The recovery of the USD/JPY currency exchange rate has been stopped by the first resistance of the weekly pivot points at the 113.36 level.