Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the bullish channel. At the time of publication of the forecast, the rate of the US dollar to the Japanese Yen is 113.96. At the moment, we should expect an attempt to test the lower border of the channel near the level of 113.55 and continue the growth of the pair USD/JPY in the area above the level of 114.85.
USD/JPY forecast Japanese Yen October 2, 2018
In favor of the growth of the pair USD/JPY, a trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the growth variant of the Dollar/Yen pair will result in a drop and a breakdown at level 113.05, which will indicate the breakdown of the lower boundary of the bullish channel and the continued decline of the Dollar/Yen pair with a target below the level of 111.85. With the breakdown of the resistance area and the closing of quotes above the level of 114.25, it is worth confirming the growth development of the pair.
USD/JPY forecast Japanese Yen October 2, 2018 suggests an attempt of testing the support area near the level of 113.55 and the continuation of the growth of quotations in the region above the level of 114.85, in favor of the pair’s growth, the trend line test on the indicator of relative index (RSI) will come out.
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