Asian, US, European stock markets since the beginning of 2019 to a positive outlook rally was carried out as a break in May. Demand for reliable ports due to sales in global stock markets is noteworthy. USDJPY, giving the appearance that the recent positive trends continued to impact since the New Year in this process was followed by a willingness to adapt to the new profile on negative outlook. The USDJPY parity, which reached 109,12 support points along with the trend change with the pricing behavior at the level of 110,88, keeps the expectation to continue this idea on the agenda.
Main Scenario: USDJPY may want to continue its new negative outlook under the 110.88 barrier under the current lower point of the downtrend. With this thought, the trend rally can be seen towards the 108,35 and 107,51 support points, especially 109,12. Permanent movements, especially at the level of 107.51, can make the negative outlook stronger. Otherwise, the on-line reactions may occupy the agenda. In this process, the possible reaction levels before the 110.88 barrier were recorded as 109.70 and 110.23.
Alternative Scenario: Negative trend towards the USDJPY parity is needed for the end of the trend and for the parity to return to its positive trend, permanent movements over the 110,88 barrier are needed. Trends in case of changes to the 112.22 and 112.93 111.49 monitored barrier, especially toward a positive outlook. In such pricing behavior, permanent movements above 112.22 may require confirmation in addition to the current turn.
Destek: 109,12 – 108,35 – 107,51
Direnç: 109,70 – 110,23 – 110,88