Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move in the ascending channel. At the time of the publication of the forecast, the exchange rate of the US dollar to the Japanese Yen is 114.32. At the moment, we should expect an attempt to test the lower boundary of the channel near the level of 113.65 and continued growth of the USD/JPY pair to the area above the level of 115.65.
USD/JPY forecast Japanese Yen October 5, 2018
A test of the support line on the relative strength index (RSI), as well as a rebound from the support level, will be in favor of the USD/JPY growth. Cancellation of the growth option of the Dollar/Yen pair will be a fall and a breakdown of the level of 113.25, which will indicate a breakdown of the lower boundary of the upward channel and a continued decline of the Dollar/Yen pair with a target below the level of 111.75. With the breakdown of the resistance area and the closure of quotations above the level of 114.65, it is worth confirming the development of growth in the pair.
USD/JPY forecast Japanese Yen October 5, 2018 suggests an attempt to test the support area near 113.65 and continue growth of quotations to the area above 115.65, a test of the trend line on the relative strength index (RSI) will be in favor of the pair growth, breakdown of the area 113.25, which indicates the breakdown of the support area and the continuation of the fall of the pair.
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