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.
USD/JPY forecast & technical analysis on December 14, 2017
In favor of the fall of USD/JPY is the breakdown of the support line on the indicator of relative strength index (RSI). The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and breakdown at the level of 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 14, 2017 assumes an attempt to test the level of 113.50 and continue falling to the area below 111.60 as part of the downgrade of the «Wolfe Wave» model, an additional signal in favor of the decline of the Dollar/Yen pair will be a resistance test on the relative strength indicator index (RSI), the cancellation of the USD/JPY fall will be the breakdown of the area of 114.20.
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