Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the correction. At this point, we should expect an attempt to test the resistance area near the level of 107.70 and continue the fall of the pair into the area below the level of 105.80.
USD/JPY forecast & technical analysis April 19, 2018
In favor of the fall of the pair USD/JPY will test the resistance line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders». The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and a breakdown of the level of 107.90, which will indicate the breakdown of the upper border of the channel and the continued growth of the Dollar/Yen pair with a target above the level of 109.50. To expect confirmation of the fall of the pair is with the breakdown of the support line and closing below the level of 106.65.
USD/JPY forecast & technical analysis April 19, 2018 suggests a test of the resistance level near the area of 107.90 and the continuation of the fall of quotations in the area below the level of 106.65, in favor of the fall the trend line test will perform on the indicator of relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
