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23.01.2020

USD/JPY: wave analysis

The pair may grow.

On the daily chart, the first wave of the higher level 1 of (C) forms. Now, the wave of the lower level iii of 1 has started to form, within which the first wave of the lower level (i) of iii has formed. If the assumption is correct, after the end of the correction (ii) of iii the pair will grow to the levels of 111.00–112.35. In this scenario, critical stop loss level is 108.62.

GBP/JPY: Ichimoku clouds

On the daily chart Tenkan-sen line is crossing Kijun-sen from below, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span is crossing the price chart from above, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (143.40). One of the previous maximums of Chikou Span line is expected to be a resistance level (146.00).

CAD/CHF: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from above, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.7319). Merged Tenkan-sen and Kijun-sen lines have become a strong resistance level (0.7396).

AUD/JPY: Ichimoku clouds

On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is crossing the price chart from below, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Kijun-sen line (75.10). The closest resistance level is Tenkan-sen line (75.70).

Trade Balance. Japan, 01:50 (GMT+2)

At 01:50 (GMT+2), December data on Trade Balance will be published in Japan. This indicator captures the difference between the amount of payments for exported and imported goods. Its increase is a positive factor for JPY. The balance sheet deficit is expected to increase from 85.2B to 150.0B yen. The implementation of the forecast can put pressure on JPY.