Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the 107.43 area. The pair continues to move within the fall and the descending 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 108.25. Then rebound and the continuation of the fall of the pair in the area below 104.45.
USD/JPY Forecast and Analysis June 24 — 28, 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 June 24 — 28, 2019 will be a strong growth and the breakdown of the area of 109.95. 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 112.55. Confirmation of a fall in the pair USD/JPY will be the breakdown of the support area and the close below 106.35.
Among the important news from Japan that may have an impact on the Japanese Yen rate, it is not expected to highlight: Japan Retail Sales m/m.
USD/JPY Forecast and Analysis June 24 — 28, 2019 suggests an attempt to test the resistance level near the area of 108.25. Where can we expect to continue the fall of the pair in the area below 104.45. 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 109.95. This will indicate a continued rise of the pair with a potential target above the 112.55 area.