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 112.23. At this point, we should expect an attempt to test the upper limit of the channel near the level of 112.60 and continue to reduce the pair USD/JPY in the area below the level of 111.55.
USD/JPY forecast Japanese Yen September 21, 2018
In favor of the fall of the pair USD/JPY, the trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the Dollar/Yen decline option will result in a strong growth and 112.95 level breakdown, which will indicate the breakdown of the upper boundary of the rising channel and the continued growth of the Dollar/Yen pair with a target above 114.00. With the breakdown of the support area and the closing of quotations below the level of 112.00, it is worth acknowledging the development of the decline in the pair.
Among the important news from Japan, which may affect the rate of the pair USD/JPY, it is worth highlighting: the Consumer Price Index.
USD/JPY forecast Japanese Yen September 21, 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 111.55, 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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