Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the «5-0» bearish pattern. At this point, we should expect an attempt to test the upper boundary of the descending channel near the level of 113.50 and continue falling to the area below the level of 111.20.
USD/JPY forecast Japanese Yen on December 28, 2017
In favor of the USD/JPY decline, a resistance line test will be performed on the relative strength index (RSI). The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and a breakdown of 114.00 level, which will indicate the breakdown of the upper border of the channel and the continued growth of the pair USD/JPY on FOREX. Expect the acceleration of falling quotations of the pair is with the breakdown of the support level and closing below 111.90.
USD/JPY forecast Japanese Yen on December 28, 2017 suggests a test of the level of 113.40 and continuation of the fall to the area below the level of 111.20, an additional signal in favor of the fall of the Dollar/Yen pair will be a resistance line test on the relative strength index (RSI), the USD/JPY drop option there will be a breakdown of the area of 114.00.
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