Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 111.70. 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 112.15. Then rebound and the continuation of the fall of the pair in the area below the level 107.40.
USD/JPY Forecast and Analysis March 18 — 22, 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 bearish channel. Cancellation of the option to reduce the pair USD/JPY in the current trading week of March 18 — 22, 2019 will be a strong growth and a breakdown of the area of 112.95. This option will indicate the 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, which may have an impact on the Japanese Yen rate, it is worth highlighting: Consumer price index.
USD/JPY Forecast and Analysis March 18 — 22, 2019 implies an attempt to test the resistance level near the 112.15 area. Where can we expect to continue the fall of the pair in the area below the level of 107.40. 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 112.95. This will indicate continued growth of the pair.