Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the correction and the formation of the «Wedge» model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Japanese Yen is 112.49. At the moment, we should expect an attempt to test the resistance area near the level of 112.70 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 25, 2018
In favor of reducing the pair USD/JPY will test the bearish trend line on the indicator of relative strength index (RSI). Cancellation of the fall option of the Dollar/Yen pair will be a strong growth and a breakdown of the level of 113.20, which will indicate a breakdown of the upper boundary of the channel and continued growth of the Dollar/Yen pair with a target above the level of 114.50. With the breakdown of the lower boundary of the ascending channel and closing of quotations below the level of 113.05, it is worth confirming the development of the downward movement in the pair.
USD/JPY forecast Japanese Yen October 25, 2018 suggests an attempt to test the resistance area near the level of 112.70 and continue falling of quotations to the area above 110.90, in favor of reducing the USD/JPY pair, a test of the bearish trend line on the relative strength index (RSI) will be canceled the fall of the currency pair will be a strong growth and a breakdown of the area of 113.20, which will indicate a breakdown of the resistance area and continued growth of the pair.
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