Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the limits of growth. At the time of publication of the forecast, the US Dollar rate against the Japanese Yen is 111.49. At this point, we should expect an attempt to test the upper limit of the «Triangle» model near the level of 111.20 and continue the growth of the pair USD/JPY in the area above the level of 112.45.
USD/JPY forecast & technical analysis August 1, 2018
In favor of the growth of the pair USD/JPY will test the support line on the indicator of relative strength index (RSI), as well as test the upper boundary of the channel. The cancellation of the growth variant of the Dollar/Yen pair will result in a drop and breakdown at the level of 110.45, which will indicate the breakdown of the support area and the continued decline of the Dollar/Yen pair with a target below 109.50. With the breakdown of the resistance area and the closing of quotes above the level of 111.80, one should expect confirmation of the development of the upward movement in the pair.
USD/JPY forecast & technical analysis August 1, 2018 suggests an attempt of testing the support area near the level of 111.20 and continuation of the growth of quotations to the area above the level of 112.45, in favor of the pair growth, the trend line test on the relative strength index (RSI) will come out.