Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the descending channel. At the moment, we should expect an attempt to test the resistance level near the 107.00 area and continue the fall of the pair into the area below the level of 105.40.
USD/JPY forecast & technical analysis February 27, 2018
In favor of reducing the pair USD/JPY will make the formation of the reversal forex pattern «Head and Shoulders» on the indicator of relative strength index (RSI). The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and a breakdown of the level of 107.65, which will indicate the outflow of quotes beyond the descending channel and the continuation of growth. To expect confirmation of the fall of the pair is with the breakdown of the support area and closing below 106.20.
USD/JPY forecast & technical analysis February 27, 2018 suggests a test of the resistance level near the 107.10 area and the continuation of the fall of quotations to the area below the level of 105.40, in favor of the fall, the formation of the reversal model on the indicator of relative strength index (RSI) will come out, the abolition of the decline option will be the breakdown of the region 107.65.
