Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 111.16. The pair continues to move within the bullish correction. Moving averages indicate a lateral trend. At the moment, we should expect an attempt to grow and test the resistance level near the area of 112.05. Then rebound and the continuation of the fall of the pair in the area below 107.25.
USD/JPY Forecast and Analysis March 11 — 15, 2019
In favor of the fall of the pair Dollar/Yen will test the broken trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the descending channel. Cancellation of the option to reduce the pair USD/JPY in the current trading week of March 11 — 15, 2019 will be a strong growth and a breakdown of the area of 112.85. 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 114.65. Confirmation of the development of the downward trend for the pair USD/JPY will be the breakdown of the lower boundary of the ascending channel and closing below 110.25.
Among the important news from Japan that may have an impact on the Japanese Yen rate, it is worth highlighting: Decision on the interest rate of the Bank of Japan, Comment on monetary policy, Press conference of the Bank of Japan.
USD/JPY Forecast and Analysis March 11 — 15, 2019 involves an attempt to test the resistance level near the area of 112.05. Where can we expect to continue the fall of the pair in the area below 107.25. 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 112.85. This will indicate continued growth of the pair.
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