Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 111.47. The pair continues to move within the descending channel. Moving averages indicate a bullish trend. At the moment, we can expect an attempt to reduce and test the support level near the area of 110.65. Then rebound and continued growth of the pair to the area above 115.55.
USD/JPY Forecast and Analysis May 6 — 10, 2019
In favor of the rise of a pair of Dollar/Yen will test the rising trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the support area. Cancellation of the growth option of the pair USD/JPY in the current trading week from May 6 to 10, 2019 will be a fall and a breakdown of the area of 108.45. This option will indicate a breakdown of the lower boundary of the channel and the continuation of the decline in the Forex pair to the area below the level of 106.55. Confirmation of the development of an upward trend in the USD/JPY pair will be a breakdown of the upper boundary of the downward channel and closing above the level of 112.45.
USD/JPY Forecast and Analysis May 6 — 10, 2019 implies an attempt to test the support level near the area of 110.65. Where can we expect to continue the growth of the pair in the area above 115.55. An additional signal in favor of the rise will be the test of the trend line on the relative strength index (RSI). Cancellation of the growth of the pair will be the fall and the breakdown level of 108.45. This will indicate a continued decline in the pair.
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