Quotations of the currency pair US Dollar to Japanese Yen USD/JPY continue to test the upper limit of the downward channel, it is worth waiting for the attempt of the Japanese Yen’s rebound and fall in the area below the level of 111.05.
USD/JPY Forecast Japanese Yen on May 9, 2017
In favor of falling USD/JPY quotes on FOREX is the formation of a reversal Forex model. The failed swing, which indicates the breakdown of the area of 112.00 with closing prices. The cancellation of the Yen Dollar decline option will result in a strong growth and breakdown of the region of 113.05, which will indicate the outflow of quotes outside the channel and the continued growth of the pair in the area above the level of 115.50.
Important news from Japan is not expected, so the pair will continue to move within the technical analysis of USD/JPY.
USD/JPY Forecast Japanese Yen on May 9, 2017 suggests an attempt to fall below 111.05 as part of the development of the reversal Forex model the failed swing on the relative strength indicator, the breakdown of the 113.05 area, which will indicate the continued growth of the pair Yen Dollar.
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