Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the growth. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Japanese Yen is 109.97. Moving averages indicate the presence of a short-term bullish trend for the pair. As part of the forecast for the Japanese Yen on January 16, 2020, we should expect an attempt to continue growth and test the resistance area near the level of 110.75. Further, the rebound and continued fall of the pair USD/JPY to the area below the level of 108.85.
USD/JPY Forecast Japanese Yen January 17, 2020
An additional signal in favor of the fall of the USD/JPY currency pair will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the bullish channel. Cancellation of the option of falling the currency pair Dollar/Yen will be a strong growth and the breakdown level of 111.75. This will indicate a breakdown of the resistance area and continued growth of the Dollar/Yen pair. In this case, we should expect the pair to continue to rise to the area above the level of 113.45. With the breakdown of the support area and closing of quotes below 109.35, we should expect confirmation of the development of a downward movement in the pair.
USD/JPY Forecast Japanese Yen January 17, 2020 implies an attempt to test the resistance area near the level of 110.75. Then, the continuation of the fall of quotations in the area below the level of 108.85. A test of the trend line on the relative strength index (RSI) will be in favor of raising the pair. Cancellation of the reduction option will be a strong growth and the breakdown of the 111.75 area. This will indicate a breakdown of the resistance level and continued development of the upward movement of the pair with a potential target above the level of 113.45.
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