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 111.95. At the moment, we should expect an attempt to test the support area near the level of 111.10 and continue the growth of the pair USD/JPY in the area above the level of 112.75.
USD/JPY forecast Japanese Yen September 19, 2018
In favor of the growth of the pair USD/JPY will test the trend line on the indicator of relative strength index (RSI), as well as test the border of the lower boundary of the bullish channel. The cancellation of the growth variant of the Dollar/Yen pair will result in a drop and a breakdown of the level of 110.75, which will indicate the breakdown of the lower boundary of the rising channel and the continued decline of the Dollar/Yen pair with a target below the level of 111.00. With the breakdown of the resistance area and the closing of quotations above the level of 112.45, one should expect confirmation of the development of the upward movement in the pair.
Among the important news from Japan, which may affect the rate of the pair USD/JPY, it is worth highlighting: The decision on the interest rate of the Bank of Japan, Commentary on monetary policy, Press Conference of the Bank of Japan.
USD/JPY forecast Japanese Yen September 19, 2018 suggests an attempt of testing the support area near the level of 111.10 and the continuation of the growth of quotations to the area above the level of 112.75, in favor of the pair’s growth, the trend line test on the indicator of relative strength index (RSI) will come out.
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