Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the 107.67 area. The pair continues to move within the decline and the downward channel. Moving averages indicate a bearish trend. Here, also, the quotes failed to test even the area of moving averages, which indicates aggressive sales of investors. At the moment, we should expect an attempt to grow and test the resistance level near the area of 108.85. Then rebound and the continuation of the fall of the pair in the area below 104.35.
USD/JPY Forecast and Analysis July 1 — 5, 2019
In favor of the growth of the Dollar/Yen pair will test the downward trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall of the pair USD/JPY in the current trading week of July 1 — 5, 2019 will be a strong growth and the breakdown of the area of 110.25. This option will indicate a 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 a fall in the pair USD/JPY will be the breakdown of the support area and the closure below 106.25.
Among the important news from Japan that may have an impact on the Japanese Yen rate, it is not expected to highlight: Bank of Japan (BoJ) Tankan Large Manufacturing Index, Bank of Japan (BoJ) Tankan Large Non-Manufacturing Index.
USD/JPY Forecast and Analysis July 1 — 5, 2019 involves an attempt to test the resistance level near the area of 108.85. Where can we expect to continue the fall of the pair in the area below 104.35. 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 110.25. This will indicate a continued rise of the pair with a potential target above the area of 113.35.
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