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 112.94. At the moment, we should expect an attempt to grow and test the resistance area near the level of 113.35. Further, the continuation of the fall of the USD/JPY pair to the area below the level of 111.65.
USD/JPY forecast Japanese Yen November 23, 2018
The test of the broken trend line on the relative strength index (RSI) will be in favor of reducing the USD/JPY pair. And also test the lower boundary of the bullish channel. Cancellation of the fall of the pair Dollar/Yen will be a strong growth and the breakdown of the level of 113.75. This will indicate a breakdown of the resistance area and continued growth of the Dollar/Yen pair. The target of this movement may be the area above the level of 114.80. With the breakdown of the area of support and closing of quotations below the level of 111.95 it is worth confirming the development of the decline in the pair.
Among the important news from Japan that may affect the rate of the pair USD/JPY, it is worth highlighting: Consumer Price Index, Basic Consumer Price Index, Consumer Price Index in Japan excluding food and energy.
USD/JPY forecast Japanese Yen November 23, 2018 involves an attempt to test the resistance area near the level of 113.35. Then the continuation of the fall of quotations to the area below the level of 111.65. 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 strong growth and the breakdown of the area of 113.75. This will indicate the breakdown of the resistance area and the continuation of the upward movement of the pair.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
