Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the bearish model of «Wolfe Wave». At this point, we should expect an attempt to test the level of 113.50 and the beginning of the fall in the area below the level of 111.60.
USD/JPY forecast & technical analysis on December 12, 2017
In favor of the fall of USD/JPY, a resistance line test will be performed on the relative strength index (RSI). The cancellation of the continuation of the fall of the Dollar/Yen pair will result in a strong growth and breakdown at the level of 113.90, which will indicate the breakdown of the resistance level and the continued growth of the pair USD/JPY on Forex.
USD/JPY forecast & technical analysis on December 12, 2017 involves an attempt to test the level of 113.50 and continue falling to the area below 111.65 as part of the start-up of the bearish model of the «Wolfe Wave», an additional signal in favor of the fall of the Dollar/Yen pair will be a resistance test on the relative strength index (RSI), the cancellation of the USD/JPY fall will be the breakdown of the area of 113.90.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
