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 US Dollar rate against the Japanese Yen is 112.50. At the moment, we should expect an attempt to test the support area near the level of 112.05 and continue the growth of the pair USD/JPY in the area above the level of 114.30.
USD/JPY forecast & technical analysis July 17, 2018
In favor of the growth of the pair USD/JPY will test the upward 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 111.70, 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 111.10. With the breakdown of the resistance area and the closing above the level of 112.85, one should expect confirmation of the development of the bullish movement in the pair.
USD/JPY forecast & technical analysis July 17, 2018 suggests an attempt of testing the support area near 112.05 level and the continuation of the growth of quotations to the area above the level of 114.30, in favor of the growth of the pair, a support line test will be performed on the indicator of relative strength index (RSI).
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