Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the 108.85 area. The pair continues to move within the upward 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 110.05. Then rebound and the continuation of the fall of the pair in the area below 104.55.
USD/JPY Forecast and Analysis February 4 — 8, 2019
In favor of the fall of the pair Dollar/Yen will test the downward trend line on the indicator of relative strength index (RSI). As well as 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 February 4 — 8, 2019 will be a strong growth and a breakdown of the 111.25 area. This option will indicate the breakdown of the upper boundary of the channel and the continued growth of the pair on FOREX to the area above the level of 113.35. Confirmation of the downward trend in the USD/JPY pair will be a breakdown of the support area and the close below 107.65.
Important news from Japan, which may have an impact on the Japanese Yen rate, is not expected, so the pair will continue to move in the framework of technical analysis.
USD/JPY Forecast and Analysis February 4 — 8, 2019 suggests an attempt to test the resistance level near the area of 110.05. Where can we expect to continue the fall of the pair in the area below 104.55. An additional signal in favor of reducing the test trend line on the indicator of relative strength index (RSI). Cancellation of the option to reduce the pair will be a strong growth and the breakdown level of 113.35. This will indicate continued growth of the pair.
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