Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continues to move as part of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Japanese Yen is 112.55. At the moment, we should expect an attempt to decrease and test the support area near the level of 112.25. Further, the continued growth of the USD/JPY pair to the area above the level of 113.85.
USD/JPY forecast Japanese Yen December 19, 2018
The test of the support line on the relative strength index (RSI) will be in favor of the growth of the USD/JPY pair. Cancellation of growth options for the pair Dollar/Yen will be a decline and a breakdown of the level of 111.90. This will indicate a breakdown of the support area and the continuation of the decline of the Dollar/Yen pair. With the breakdown of the upper boundary of the «Triangle» model and the closure of quotes above the level of 114.15, it is worth confirming the development of growth in the pair.
USD/JPY forecast Japanese Yen December 19, 2018 implies an attempt to test the support area near the level of 112.25. Then, the growth of quotations to the area above the level of 113.85. In favor of the pair will make a test trend line on the indicator of relative strength index (RSI). Cancellation of growth options will fall and the breakdown of 111.90. This will indicate a breakdown of the lower boundary of the «Triangle» model and the continuation of the downward movement of the pair.
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