Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the 111.91 area. The pair continues to move within the downward channel. Moving averages indicate an uptrend. At the moment, we should expect an attempt to reduce and test the support level near the area of 111.45. Then rebound and continued growth of the pair to the area above the level of 114.85.
USD/JPY Forecast and Analysis April 22 — 26, 2019
In favor of the rise of a pair of Dollar/Yen will test the rising trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the support area. The cancellation of the growth option of the USD/JPY pair in the current trading week of April 22 — 26, 2019 will be a fall and a breakdown of the area of 109.25. This option will indicate a breakdown of the lower boundary of the channel and the continuation of the pair decline on Forex to the area below the level of 106.65. Confirmation of the development of an upward trend in the pair USD/JPY will be a breakdown of the upper boundary of the downward channel and closing above the level of 112.75.
Among the important news from Japan that may have an impact on the Japanese Yen rate, it is worth highlighting: Bank of Japan (BoJ) Interest Rate Decision, Bank of Japan (BoJ) Press Conference, Japan Retail Sales m/m.
USD/JPY Forecast and Analysis April 22 — 26, 2019 suggests an attempt to test the support level near the area of 111.45. Where can we expect the pair to continue growing to the area above the level of 114.85. An additional signal in favor of the rise will be the test of the trend line on the relative strength index (RSI). Cancellation of the growth of the pair will be the fall and the breakdown level of 109.25. This will indicate a continued decline in the pair.
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