Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the bearish 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 21, 2017
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. Expect to accelerate the fall of quotations of the pair is with the breakdown of the level of 111.90.
USD/JPY forecast & technical analysis on December 21, 2017 involves a test of level 113.20 and the continuation of a fall below 110.50 as part of the development of the «Head and Shoulders» reversal model, an additional signal in favor of the fall 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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