Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the framework of the bullish correction. At this point, we should expect a resistance level near 112.85 and continue to fall below 111.50. In favor of the fall of USD/JPY is the formation of the reversal model «Failure Swing» on the indicator of relative strength index (RSI).
USD/JPY forecast & technical analysis on December 6, 2017
The cancellation of the continuation of the fall of the pair Dollar/Yen will be strong growth and breakdown at 113.40, which will indicate the breakdown of the resistance level and the continued growth of the pair USD/JPY on Forex. To expect the acceleration of the fall is with the breakdown of the level of 112.45.
USD/JPY forecast & technical analysis on December 6, 2017 suggests an attempt to test the resistance level and continue falling to the area below 111.50, an additional signal in favor of the decline of the Dollar/Yen pair is the formation of a reversal pattern on the relative strength index (RSI), the USD/JPY breakdown of the area 113.40.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
