Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the growth and 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 110.79. At the moment, we should expect an attempt to grow and test the resistance area near the level of 110.95. Further, the continuation of the fall of the USD/JPY pair to the area below the level of 109.75.
USD/JPY Forecast Japanese Yen February 21, 2019
In favor of the fall of the pair USD/JPY will test the downward trend line on the indicator of relative strength index (RSI). Cancellation of the fall of the pair Dollar Yen will be a strong growth and the breakdown level of 111.25. This will indicate a breakdown of the upper limit of the «Triangle» model and the continued growth of the Dollar/Yen pair. With the breakdown of the area of support and closing of quotes below 110.25, we should expect confirmation of the development of a decline in the pair.
USD/JPY Forecast Japanese Yen February 21, 2019 involves an attempt to test the resistance area near the level of 110.95. Then, the continuation of the fall of quotations to the area below the level of 109.75. In favor of the fall of the pair will make a test trend line on the indicator of relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of 111.25. This will indicate the breakdown of the resistance level and the continuation of the upward movement of the pair with a potential target above the level of 111.95.
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