USD/JPY Forecast and Analysis March 16 — 20, 2020


Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of ​​106.22. The pair continues to move as part of the correction after a strong fall. Moving averages indicate a bearish trend. Prices have gone far down from the area between the signal lines down, indicating pressure from sellers of the US dollar. At the moment, we should expect an attempt to develop a bullish correction and a test of the resistance level near the area of ​​107.35. Then the rebound and the continuation of the fall of the pair in the area below the level of 100.05.

USD/JPY Forecast and Analysis March 16 — 20, 2020

A test of the trend line on the relative strength index (RSI) will be in favor of the fall of the Dollar/Yen pair. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the fall of the USD/JPY pair in the current trading week March 16 — 20, 2020 will be a strong growth and a breakdown of the area of ​​109.65. This option will indicate a breakdown of the resistance area and continued growth of the Forex pair to the area above the level of 112.05. A confirmation of the fall in the pair USD/JPY will be a breakdown of the support area and closing at the level of 104.35.

USD/JPY Forecast and Analysis March 16 — 20, 2020

Among the important news from Japan that may have an impact on the Japanese Yen, it is worth highlighting: Bank of Japan (BoJ) Interest Rate Decision, Bank of Japan (BoJ) Press Conference.

USD/JPY Forecast and Analysis March 16 — 20, 2020 implies an attempt to test the resistance level near the area of ​​107.35. Where can we expect the pair to continue falling to the area below the level of 100.05. 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 option will be a strong growth and the breakdown level of 109.65. This will indicate a continued rise of the pair with a potential target above 112.05.


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