Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 109.67. The pair continues to move within the decline and the downward channel. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to grow and test the resistance level near the 110.55 area. Then rebound and the continuation of the fall of the pair in the area below 105.85.
USD/JPY Forecast and Analysis May 27 — 31, 2019
In favor of the fall of the pair Dollar/Yen will test a downward 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 fall of the pair USD/JPY in the current trading week of May 27 — 31, 2019 will be a strong growth and a breakdown of the area of 111.75. 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 114.25. Confirmation of the development of the downward trend for the pair USD/JPY will be a breakdown of the support area and a close below 108.85.
Among the important news from Japan that may have an impact on the Japanese Yen rate, it is not expected to highlight: Bank of Japan (BoJ) Governor Kuroda Speech, Japan Retail Sales m/m.
USD/JPY Forecast and Analysis May 27 — 31, 2019 suggests an attempt to test the resistance level near the 110.55 area. Where can we expect to continue the fall of the pair in the area below the level of 105.85. An additional signal in favor of the fall is the test of the trend line on the relative strength index (RSI). Cancellation of the option to reduce the pair will be a strong growth and the breakdown level 111.75. This will indicate a continued rise of the pair with a potential target above the area of 114.25.
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