Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of a decline. At the time of the publication of the forecast, the exchange rate of the US dollar to the Japanese Yen is 113.15. At the moment, we should expect an attempt to test the resistance area near the level of 113.55. Then, the USD/JPY pair will continue to fall below the level of 111.95.
USD/JPY forecast Japanese Yen November 16, 2018
The test of the broken trend line on the relative strength index (RSI) will be in favor of reducing the USD/JPY currency pair. As well as the formation of a descending model «Wolfe Wave». Cancellation of the fall of the pair Dollar/Yen will be a strong growth and the breakdown of the level of 114.20. This will indicate a breakdown of the resistance area and continued growth of the Dollar/Yen pair with a target above the level of 111.85. With the breakdown of the support area and closing of quotes below the level of 112.75, it is worth confirming the development of the downward movement in the pair.
USD/JPY forecast Japanese Yen November 16, 2018 involves an attempt to test the resistance area near the level of 113.55. Further, the continuation of the fall of quotations to the area below the level of 111.95. In favor of reducing the pair USD/JPY will test the trend line on the indicator of relative strength index (RSI). Cancellation of the fall of the USD/JPY currency pair will be a strong growth and the breakdown of the 114.20 area. This will indicate a breakdown of resistance and continued growth of the pair.
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