Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the «5-0» bearish pattern. At this point, we should expect an attempt to test the upper border of the channel near the level of 113.20 and continue falling into the area below the level of 111.35. In favor of falling USD/JPY is the resistance line test on the indicator of relative index (RSI).
USD/JPY forecast & technical analysis January 9, 2018
The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and a breakdown at level 113.60, which will indicate the breakdown of the upper bound of the «5-0» model and the continued growth of the USD/JPY pair on FOREX. Expect the acceleration of falling quotations of the pair is with the breakdown of the support level and closing below 111.90.
USD/JPY forecast & technical analysis January 9, 2018 suggests a 113.20 test at the level of 113.20 and continuing to fall below 111.35, an additional signal in favor of the decline in the Dollar/Yen pair is the trend line test on the relative strength index (RSI), the USD/JPY there will be a breakdown of area 113.60.