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 US Dollar rate against the Japanese Yen is 112.29. At this point, we should expect an attempt to test the upper limit of the uplink near the level of 112.60 and continue to reduce the pair USD/JPY in the area below the level of 111.35.
USD/JPY forecast Japanese Yen September 20, 2018
In favor of the fall of the pair USD/JPY, a trend line test will be performed on the relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal model. The cancellation of the Dollar/Yen decline option will result in a strong growth and 112.95 breakdown, which will indicate the breakdown of the upper bound of the rising channel and the continued growth of the Dollar/Yen pair with a target above the level of 111.00. With the breakdown of the resistance area and the closing of quotations above the level of 113.65, it is worthwhile to accelerate the development of the bullish movement in the pair.
Important news from Japan, which may have an impact on the rate of the pair USD/JPY, is not expected, so the pair will continue to move in the technical analysis.
USD/JPY forecast Japanese Yen September 20, 2018 suggests a test of the resistance area near the level of 112.60 and the continuation of the decline of quotations in the area below the level of 111.35, in favor of the fall of the pair, a trend line test will be performed on the indicator of relative strength index (RSI).
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