Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the ascending channel. At the time of the publication of the forecast, the exchange rate of the US dollar to the Japanese Yen is 113.84. At the moment, we should expect an attempt to test the lower boundary of the channel near the level of 113.35 and continued growth of the USD/JPY pair to the area above the level of 114.85.
USD/JPY forecast Japanese Yen October 4, 2018
A test of the support area on the relative strength index (RSI), as well as a rebound from the support level, will be in favor of the growth of the USD/JPY pair. Cancellation of the growth option of the Dollar/Yen pair will be the fall and breakdown of the level of 112.90, which will indicate breakdown of the lower boundary of the upward channel and continued decline of the Dollar/Yen pair with the goal below the level of 111.75. 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 4, 2018 suggests an attempt to test the support area near 113.35 and continue growth of quotations to the area above 114.85, a test of the trend line on the relative strength index (RSI) will act in favor of the pair.
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