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 112.79. At the moment, we should expect an attempt to test the resistance area near the level of 113.25. Further, the continuation of the fall of the USD/JPY pair to the area below the level of 111.80.
USD/JPY forecast Japanese Yen November 20, 2018
In favor of reducing the pair USD/JPY will test the trend line on the indicator of relative strength index (RSI). As well as the formation of a bearish model «Wolfe Wave». Cancellation of the fall of the pair Dollar/Yen will be a strong growth and the breakdown level of 114.10. This will indicate a breakdown of the upper boundary of the channel and the continuation of the growth of the Dollar/Yen pair. The purpose of this movement may be the area above the level of 115.50. With the breakdown of the support area and closing of quotations below the level of 112.35, it is worth confirming the development of the decline in the pair.
USD/JPY forecast Japanese Yen November 20, 2018 involves an attempt to test the resistance area near the level of 113.25. Then the continuation of the fall of quotations to the area below the level of 111.80. A test of the trend line on the relative strength index (RSI) will be in favor of reducing the pair. Cancellation of the fall option will be a strong growth and the breakdown of the area of 114.10. This will indicate the breakdown of the resistance area and the continuation of the upward movement of the pair.
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