Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the descending channel. At the moment, we should expect a test of level 113.20 and continue falling into the area below the level of 110.50. In favor of the USD/JPY decline, a resistance line test will be performed on the relative strength index (RSI), and the formation of the «Head and Shoulders» reversal model will take place.
USD/JPY forecast & technical analysis on December 20, 2017
The cancellation of the fall variant of the Yen Dollar 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 20, 2017 involves a test of the 113.20 level and continued falling below 110.50 as part of the development of the «Head and Shoulders» reversal model, an additional signal in favor of the decline of the Dollar/Yen pair will be a resistance line test at indicator of relative strength index (RSI), the cancellation of the USD/JPY fall will be the breakdown of the area 114.10.
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