Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of growth. At the time of the publication of the forecast, the exchange rate of the US dollar to the Japanese Yen is 112.58. At the moment, we should expect an attempt to test the support area near the level of 112.45 and the continued growth of the USD/JPY pair to the area above the level of 113.45.
USD/JPY forecast Japanese Yen October 19, 2018
A test of the trend line on the relative strength index (RSI), as well as the completion of the «Head and Shoulders» model, will be in favor of the growth of the USD/JPY pair. Cancellation of the growth option of the Dollar Yen pair will be a fall and a breakdown of the level of 111.55, which will indicate the breakdown of the support area and the continuation of the fall of the Dollar Yen pair with a target below the level of 109.85. With the breakdown of the resistance area and the closure of quotations above the level of 112.85, it is worth confirming the development of growth in the pair.
Among the important news from Japan that may have an impact on the course of the pair USD/JPY, it is not expected to highlight: Consumer price index, Speech by the head of the Bank of Japan.
USD/JPY forecast Japanese Yen October 19, 2018 suggests an attempt to test the support area near the level of 112.45 and continued growth of quotations to the area above the level of 113.45, 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 111.55, which will indicate the breakdown of the support area and the continued decline of the pair.