Quotes of the currency pair USD/JPY are traded within the framework of an upward correction. At this point, we should expect a rebound and a fall in the pair’s quotations in the area below the level of 108.50. Whence again it is necessary to expect the continuation of the pair’s growth of the Dollar/Yen above the level of 112.00.
USD/JPY forecast Dollar Yen on September 13, 2017
In favor of the fall of the pair is the test of the bearish trend line on the indicator of relative strength index (RSI). The cancellation of the fall option will be a strong growth and breakdown of the region of 110.50, which will indicate that the USD/JPY pair continues to grow above the 112.00 level. Expect the acceleration of growth is with the breakdown of the upper boundary of the bearish channel.
Important news from Japan, which may have an impact on the rate of the Dollar/Yen pair, is not expected therefore the pair will continue to move within the technical analysis USD/JPY.
USD/JPY forecast Dollar Yen on September 13, 2017 involves an attempt to test the area of 108.50 and begin to rise above the level of 112.00 as part of the development of the «Head and Shoulders» reversal model.