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 a test of the level of 113.00 and continuation of the fall in the area below the level of 111.50.
USD/JPY forecast & technical analysis on December 15, 2017
In favor of the fall of USD/JPY, a resistance line test will be performed on the relative strength indicator (RSI). The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and a breakdown at level 114.10, 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 15, 2017 assumes an attempt to test the level of 113.00 and continue falling to the area below 111.50 as part of the development of the descending «Wolfe Wave» model, an additional signal in favor of the decline of the Dollar/Yen pair will be the resistance area test on the relative strength indicator (RSI), the cancellation of the USD/JPY fall will be the breakdown of the area of 114.20.
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