Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the correction. At the time of the publication of the forecast, the exchange rate of the US dollar to the Japanese Yen is 112.20. At the moment, we should expect an attempt to test the support area near the level of 112.00 and the continued growth of the USD/JPY pair to the area above the level of 113.85.
USD/JPY forecast Japanese Yen October 24, 2018
The test of the support area on the relative strength index (RSI) will be in favor of the growth of the USD/JPY pair. Cancellation of the growth variant of the pair Dollar/Yen will be the fall and breakdown of the level 111.45, 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 110.75. With the breakdown of the upper boundary of the ascending channel and closing of quotations above the level of 113.05, it is worth confirming the development of growth in the pair.
USD/JPY forecast Japanese Yen October 24, 2018 suggests an attempt to test the support area near the level of 112.00 and continue growth of quotations to the area above the level of 113.85; the breakdown of the area 111.45, which will indicate the breakdown of the support area and the continued decline of the pair.