Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 111.66. The pair continues to move within the bullish correction. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to grow and test the resistance level near the area of 111.85. Then rebound and the continuation of the fall of the pair in the area below 106.95.
USD/JPY Forecast and Analysis April 8 — 12, 2019
In favor of the fall of the pair Dollar/Yen will test a downward trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the option to reduce the pair USD/JPY in the current trading week of April 8 — 12, 2019 will be a strong growth and a breakdown of the 112.65 area. This option will indicate the breakdown of the upper boundary of the channel and the continued growth of the pair at FOREX to the area above the level of 114.85. Confirmation of the development of the downward trend in the pair USD/JPY will be a breakdown of the support area and closing below 109.55.
Among the important news from Japan that may have an impact on the Japanese Yen rate, it is worth highlighting: Consumer price index.
USD/JPY Forecast and Analysis April 8 — 12, 2019 involves an attempt to test the resistance level near the area of 111.85. Where can we expect the continuation of the fall of the pair in the area below 106.95. An additional signal in favor of reducing will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to reduce the pair will be a strong growth and the breakdown level of 112.65. This will indicate continued growth of the pair.
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