Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 108.27. The pair continues to move in decline. Moving averages indicate an uptrend. At the moment, we should expect an attempt to grow and test the resistance level near the area of 109.80. Then rebound and the continuation of the fall of the pair in the area below 104.55.
USD/JPY Forecast and Analysis January 14 — 18, 2019
In favor of the fall of the pair Dollar/Yen will test a bearish trend line on the indicator of relative strength index (RSI). As well as a rebound from the upper limit of the descending channel. Cancellation of the option to reduce the pair USD/JPY in the current trading week of January 14 — 18, 2019 will be a strong growth and a breakdown of the area of 110.85. This option will indicate a breakdown of the upper boundary of the channel and the continued growth of the pair at FOREX in the area above the level of 114.45. Confirmation of the development of the downward trend for the pair USD/JPY will be a breakdown of the support area and closing below 106.85.
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 January 14 — 18, 2019 implies an attempt to test the resistance level near 109.80. 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 110.85. This will indicate continued growth of the pair.