For the pair USDJPY we can see the price reaching the 109.50 number. The area that has played the role of resistance has also played a supporting role in recent months, which has become the area of resistance due to the failure. Given the computational principles of Fibonacci science, one can predict a three-step process. The initial trend of the downside to the 107.48 price and then the upside correction to the 108.41 price and then the heavier downtrend to the 104.43 price can be imagined.
For this currency pair we express the following support points:
S1 : 109.23
S2 : 109.05
R2 : 109.64
R3 : 110.05
There is no major news for Japan next week, but US economic policy developments have a direct impact on the Japanese economy, which could have positive or negative effects on the value of the currency.
Japan's economic and political issues include the return of Japan's recession and economic downturn in recent days. There are also reasons for Japan's downturn in heavy government tax policies on manufactured goods. Japanese government officials have also repeatedly expressed reluctance to increase stimulus aid to manufacturing plants. But in the stock market, Japan's benchmark indices experienced steady growth for the fifth consecutive week. The Japanese yen also saw an average growth of 5 percent against other currencies in the financial markets.
But the global economy has little hope for the policies of the current Japanese government, and it is believed that the 5-year slump in the Japanese economy will come in 6 years.