24, August 2016

USD/JPY (a 4-hour chart)

General review

Business activity index in Japan manufacturing sector in August increased to 49.6 against 49.3 in July. During the Asian session, the pair USD / JPY, continued to drop.

Current situation

The pair remains within the range we marked 99.91-101.78. We expect the market will again rebound from the bottom level of the range of 99.91 and to pull back at least to the balance area of 100.30.

Trading recommendations

At the same time we note that the probability increased that USDJPY will trade below 99.70-99.90 support minimum, to renew local minimums.