Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the framework of the formation of the bearish model «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. In favor of the fall of USD/JPY, a resistance line test will be performed on the relative strength index (RSI).
USD/JPY forecast & technical analysis on December 13, 2017
The cancellation of the continuation of the fall of the Dollar/Yen pair will result in strong growth and breakdown at level 114.20, which will indicate the breakdown of the upper border of the channel and the continued growth of the pair USD/JPY on Forex.
USD/JPY forecast & technical analysis on December 13, 2017 assumes an attempt to test the level of 113.50 and continue falling to the area below 111.60 as part of the development of the bearish model of «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 114.20.
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