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 112.31. At the moment, we should expect an attempt to decrease and test the support area near the level of 112.15. Further, the continued growth of the pair USD/JPY to the area above the level of 113.75.
USD/JPY forecast Japanese Yen December 20, 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 the decline and breakdown of the level 111.70. 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.
Among the important news from Japan that may affect the course of the pair USD/JPY, it is worth highlighting: The decision on the interest rate of the Bank of Japan, Comment on monetary policy, the Press Conference of the Bank of Japan.
USD/JPY forecast Japanese Yen December 20, 2018 involves an attempt to test the support area near the level of 112.15. Then, the growth of quotations to the area above the level of 113.75. In favor of the pair will make a test trend line on the indicator of relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the area 111.70. 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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