Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 108.05. The pair continues to move within the correction and the downward channel. Moving averages indicate a bearish trend, prices are pushing away from the area between the signal lines, which may indicate pressure from sellers. At the moment, we should expect an attempt to reduce and test the support level near the area of 107.25. Then the rebound and continued growth of the pair in the region above the level of 112.45.
USD/JPY Forecast and Analysis November 4 — 8, 2019
A test of the support line on the relative strength index (RSI) will be in favor of raising the Dollar/Yen pair. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the growth option for the USD/JPY pair in the current trading week November 4 — 8, 2019 will be a fall and a breakdown of the area of 105.75. This option will indicate a breakdown of the support area and a continued decline in the FOREX pair to the area below the level of 103.25. A confirmation of the growth for the pair USD/JPY will be a breakdown of the upper border of the downward channel and closing above 109.45.
USD/JPY Forecast and Analysis November 4 — 8, 2019 suggests an attempt to test the support level near the area of 107.25. Where can we expect continued growth of the pair in the region above the level of 112.45. 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 105.75. This will indicate a continued decline in the pair with a potential target below the area of 103.25.
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