Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the «5-0» bearish pattern. At the moment, we should expect a test of level 112.75 and continuation of the fall in the area below the level of 111.00. 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 January 3, 2018
The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and a breakdown at level 113.30, which will indicate the breakdown of the upper border of the channel and the continued growth of the pair USD/JPY on FOREX. Expect the acceleration of falling quotations of the pair is with the breakdown of the support level and the closing below 111.80.
USD/JPY forecast & technical analysis January 3, 2018 assumes a 112.75 level test and continued falling below 111.00, an additional signal in favor of the decline of the Dollar/Yen pair is the trend line test on the relative strength index (RSI), the USD/JPY drop option will breakdown the area of 113.30.