Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the fall. The pair left the bullish channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Japanese Yen is 111.48. Moving averages indicate a short-term downward trend in the pair. At the moment, we should expect an attempt to grow and test the resistance area near the level of 111.75. Further, the rebound and the continuation of the fall of the pair USD/JPY in the area below 110.45.
USD/JPY Forecast Japanese Yen May 3, 2019
In favor of the fall of the pair USD/JPY will test the resistance line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the fall of the currency pair Dollar/Yen will be a strong growth and the breakdown level 112.10. This will indicate a breakdown of the area of resistance and continued growth of the pair Dollar/Yen. In this case, we should expect the continuation of the pair in the area above the level of 113.25. With the breakdown of the area of support and the closure of quotes below 110.90, we should expect confirmation of the development of the fall in the pair.
USD/JPY Forecast Japanese Yen May 3, 2019 involves an attempt to test the resistance area near the level of 111.75. Then, the continuation of the fall of quotations to the area below 110.45. In favor of the fall of the pair will make a test trend line on the indicator of relative strength index (RSI). Cancellation option reduction will be a strong growth and the breakdown of the area 112.10. This will indicate the breakdown of the resistance level and the continuation of the development of the upward movement of the pair with a potential target above the level of 113.25.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
