Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move in the framework of the decline. At the time of the publication of the forecast, the exchange rate of the US dollar to the Japanese Yen is 107.76. At the moment, we should expect an attempt to grow and test the resistance area near the level of 108.35. Further, the continuation of the fall of the USD/JPY pair to the area below the level of 104.75.
USD/JPY forecast Japanese Yen January 4, 2019
In favor of reducing the pair USD/JPY will test the resistance 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 109.50. This will indicate a breakdown of the upper boundary of the channel and the continuation of the growth of the dollar/yen pair. With the breakdown of the area of support and closing of quotations below 106.85, it is worth confirming the development of a decline in the pair.
USD/JPY forecast Japanese Yen January 4, 2019 involves an attempt to test the resistance area near the level of 108.35. Then, the continuation of the fall of quotations to the area below the level of 104.75. 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 the area of 109.50. This will indicate the breakdown of the resistance level and the continuation of the upward movement of the pair.
