Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the correction. At this point, we should expect a test of the resistance area near the level of 107.70 and continuation of the fall of the pair in the area below the level of 105.50.
USD/JPY forecast & technical analysis April 20, 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 108.00, which will indicate the breakdown of the upper border of the channel and the continuation of the 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 20, 2018 suggests a test of the resistance level near the 107.70 area 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 relative strength index (RSI).
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