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Analytics 26.12


Quotes of the pair are held above the support area of ​​1.1355–1.1370, but a breakthrough of the marked support may trigger a wave of sales. But since the saturation of the news background is very low, the market is still “thin”, trading activity may remain moderate. Therefore, sales over 1.1370 remain inappropriate.


Quotes of the pair managed to overcome the resistance at 1.2700, but the demand above the marked level remains very weak. At the time of writing, the quotes returned to 1.2670-1.2700, which indicates weakness of buyers. But it is still early to talk about the willingness of sellers to resume the decline.
Further strengthening of the pair quotes is possible only if the price returns above 1.2710. Until that moment, the risk of a moderate weakening of the pair’s quotes remains high.


Against the background of a weaker US dollar and a general decline in US stock indices, which increased the demand for JPY, the pair’s quotes managed to test support at 110.30. At the same time, there is still a risk of developing a more powerful downward movement, provided the situation in the US and EU stock markets deteriorates.
Decrease in interest in the protective asset of JPY can occur under the condition of corrective growth in stock and commodity markets. In this case, the closest target for buyers is a narrow price range of 110.80 / 95.