Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 108.95. The pair continues to move within the correction and the bearish channel. Moving averages indicate a lateral trend. Prices pierced the area between the signal lines up, which indicates pressure from buyers of the US dollar. At the moment, we should expect an attempt to continue growth and test the resistance level near the area of 110.05. Then the rebound and the continuation of the fall of the pair in the area below the level of 104.85.
USD/JPY Forecast and Analysis February 3 — 7, 2020
In favor of reducing the pair Dollar/Yen, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall of the USD/JPY pair in the current trading week February 3 — 7, 2020 will be a strong growth and a breakdown of the 111.05 area. This option will indicate a breakdown of the resistance area and continued growth of the FOREX pair to the area above the level of 113.45. A confirmation of the fall for the pair USD/JPY will be a breakdown of the support area and closing below 107.45.
USD/JPY Forecast and Analysis February 3 — 7, 2020 implies an attempt to test the resistance level near the area of 110.05. Where can we expect the pair to continue falling to the area below the level of 104.85. An additional signal in favor of reducing will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall of the pair will be a strong growth and the breakdown level of 111.05. This will indicate a continued rise of the pair with a potential target above the area of 113.45.
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