Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the growth and bullish channel. At the time of publication of the forecast, the dollar exchange rate against the Japanese yen is 111.30. At the moment, we should expect an attempt to test the support area near the level of 110.85 and continue the growth of the pair USD/JPY in the area above the level of 112.70 as part of the start of the «Triangle» model.
USD/JPY forecast & technical analysis July 11, 2018
In favor of the growth of the pair USD/JPY will perform a test of the broken trend line on the indicator of relative strength index (RSI). The cancellation of the growth variant of the Dollar/Yen pair will result in a drop and breakdown at level 109.80, which will indicate the breakdown of the support area and the continued decline of the Dollar/Yen pair with a target below the level of 108.15. With the breakdown of the resistance area and the closing above the level of 111.70, one should expect confirmation of the development of the upward movement in the pair.
USD/JPY forecast & technical analysis July 11, 2018 suggests an attempt of testing the support area near the level of 111.30 and continuation of the growth of quotations to the area above the level of 112.70, in favor of the pair’s growth a test of the support line on the indicator of relative strength index (RSI) will perform.
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