Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the correction. At the time of the publication of the forecast, the exchange rate of the US dollar to the Japanese Yen is 113.18. At the moment, we should expect an attempt to test the support area near the level of 112.60 and the continued growth of the USD/JPY pair to the area above the level of 114.40.
USD/JPY forecast Japanese Yen November 2, 2018
The test of the trend line on the relative strength index (RSI) will be in favor of the growth of the USD/JPY pair. Cancellation of the growth option for the pair Dollar/Yen will be the fall and breakdown of the level of 112.10, which will indicate the breakdown of the support area and the continuation of the fall of the pair of Dollar/Yen with the goal below the level of 111.20. With the breakdown of the resistance area and the closure of quotes above the level of 113.60, it is worth confirming the development of the bullish movement in the pair.
USD/JPY forecast Japanese Yen November 2, 2018 suggests an attempt to test the support area near the level of 112.60 and continued growth of quotations to the area above the level of 114.40; the currency pair will fall and breakdown of the area 112.10, which will indicate the breakdown of the support area and the continued decline of the pair.