Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 111.22. The pair continues to move as part of strong growth after the fall. Moving averages indicate a bearish trend. Prices have gone far up from the area between the signal lines down, indicating pressure from buyers of the US dollar. At the moment, we should expect an attempt to develop a correction and a test of the support level near the area of 107.55. Then the rebound and continued growth of the pair in the region above the level of 117.05.
USD/JPY Forecast and Analysis March 23 — 27, 2020
A test of the trend line on the relative strength index (RSI) will be in favor of the growth of the Dollar/Yen pair. The second signal will be the formation of an inverted model «Head and shoulders». Cancellation of the growth option for the pair USD/JPY in the current trading week March 23 — 27, 2020 will be a fall and a breakdown of the area of 106.05. This option will indicate a breakdown of the support area and the continued fall of the pair on Forex to the area below the level of 103.45. A confirmation of the growth for the pair USD/JPY will be a breakdown of the resistance area and closing above 112.65.
USD/JPY Forecast and Analysis March 23 — 27, 2020 implies an attempt to test the support level near the area of 107.55. Where can we expect continued growth of the pair in the region above the level of 117.05. An additional signal in favor of the rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for the pair will be a fall and a breakdown of the level of 106.05. This will indicate a continued decline in the pair with a potential target below the area of 103.45.
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