Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the correction and the formation of the «Triangle» model. At the time of publication of the forecast, the exchange rate of the US Dollar to the Japanese Yen is 108.51. At the moment, we should expect an attempt to grow and test the resistance area near the level of 108.75. Further, the continuation of the fall of the USD/JPY pair to the area below the level of 106.55.
USD/JPY Forecast Japanese Yen January 16, 2019
In favor of reducing the pair USD/JPY will test the downward trend line on the indicator of relative strength index (RSI). As well as a rebound from the upper limit of the model «Triangle». Cancellation of the fall of the pair Dollar Yen will be a strong growth and the breakdown level of 109.05. This will indicate areas of resistance and continued growth of the Dollar/Yen pair. With the breakdown of the lower boundary of the «Triangle» model and the closing of quotes below the level of 107.60, we should expect confirmation of the development of a decline in the pair.
USD/JPY Forecast Japanese Yen January 16, 2019 involves an attempt to test the resistance area near the level of 108.75. Then, the continuation of the fall of quotations to the area below the level of 106.55. 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 109.05. This will indicate the breakdown of the resistance level and the continuation of the upward movement of the pair.
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