Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 108.49. The pair continues to move within the correction and the bearish channel. Moving averages indicate the presence of a bearish trend, prices again pushed off the signal lines, which indicates pressure from sellers. At the moment, we should expect an attempt to grow and test the resistance level near the area of 109.05. Then a rebound and continued fall of the pair to the area below the level of 104.45.
USD/JPY Forecast and Analysis November 25 — 29, 2019
In favor of reducing the pair Dollar/Yen, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall option for the pair USD/JPY in the current trading week November 25 — 29, 2019 will be a strong growth and a breakdown of the area of 110.65. This option will indicate a breakdown of the resistance area and continued growth of the Forex pair to the area above the level of 112.95. A confirmation of the fall for the pair USD/JPY will be a breakdown of the lower border of the rising channel and closing below 106.95.
Among the important news from Japan that may have an impact on the Japanese Yen, it is worth highlighting: Japan Retail Sales m/m.
USD/JPY Forecast and Analysis November 25 — 29, 2019 suggests an attempt to test the resistance level near the area of 109.05. Where can we expect the pair to continue falling to the area below the level of 104.45. 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 110.65. This will indicate a continued rise of the pair with a potential target above 112.95.
