Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move in the ascending channel. At the time of the publication of the forecast, the exchange rate of the US dollar to the Japanese Yen is 113.24. At the moment, we should expect an attempt to test the lower boundary of the channel near the level of 113.05 and the continued growth of the USD/JPY pair to the area above the level of 115.35.
USD/JPY forecast Japanese Yen October 11, 2018
A test of the trend line on the relative strength index (RSI) and a rebound from the support area on the price chart will be in favor of the growth of the USD/JPY pair. Cancellation of the growth option of the Dollar/Yen pair will be the fall and breakdown of the level of 112.45, which will indicate breakdown of the lower boundary of the bullish channel and continued decline of the Dollar/Yen pair with a goal below the level of 111.15. With the breakdown of the resistance area and the closure of quotes above the level of 114.05, it is worth confirming the development of growth for the pair.
USD/JPY forecast Japanese Yen October 11, 2018 suggests an attempt to test the support area near the level of 113.05 and continued growth of quotations to the area above 115.35, in favor of the pair’s growth will be a test of the trend line on the relative strength index (RSI); the breakdown of the area is 112.45, which will indicate the breakdown of the support area and the continuation of the fall of the pair.