Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the fall. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Japanese Yen is 112.19. At the moment, we should expect an attempt to test the upper limit of the channel near the level of 112.65 and the continuation of the fall of the USD/JPY pair to the area below the level of 110.90.
USD/JPY forecast Japanese Yen October 12, 2018
The test of the trend line on the relative strength index (RSI), as well as a rebound from the resistance area, will be in favor of the fall of the USD/JPY pair. Cancellation of the option to reduce the Dollar/Yen pair will be a strong growth and the breakdown level of 112.95, which will indicate a breakdown of the upper boundary of the channel and the continued growth of the Dollar/Yen pair with a target above the level of 113.55. With the breakdown of the support area and closing of quotations below the level of 111.80, it is worth confirming the development of the decline in the pair.
USD/JPY forecast Japanese Yen October 12, 2018 suggests an attempt to test the resistance area near the level of 112.65 and continue falling of quotations to the area below 110.90; and the breakdown of the area 112.95, which will indicate the breakdown of the resistance area and the continued growth of the pair.