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 111.72. At the moment, we should expect an attempt to test the lower boundary of the channel near the level of 111.55 and the continued growth of the USD/JPY pair to the area above the level of 114.00.
USD/JPY forecast Japanese Yen October 16, 2018
A test of the trend line on the relative strength index (RSI), as well as a rebound from the support area, will be in favor of the USD/JPY growth. Cancellation of the growth option for the pair Dollar/Yen will be the fall and breakdown of the level 111.15, which will indicate breakdown of the lower boundary of the channel and the continuation of the fall of the pair Dollar/Yen with the goal below the level 109.85. With the breakdown of the resistance area and the closing of quotations above the level of 112.55, it is worth confirming the development of growth in the pair.
USD/JPY forecast Japanese Yen October 16, 2018 suggests an attempt to test the support area near the level of 111.55 and continued growth of quotations to the area above the level of 114.00; canceling the option, there will be the breakdown of the area 111.15, which indicates the breakdown of the support area and the continuation of the fall of the pair.