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 112.36. 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 114.00, as part of the Triangle model development.
USD/JPY forecast & technical analysis July 18, 2018
In favor of the growth of the pair USD/JPY will test the bullish 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 18, 2018 suggests an attempt to test the support area near 112.05 and continue the growth of quotations to an area above 114.00, in favor of the pair’s growth, a support line test will be performed on the relative strength index (RSI), breakdown of the area of 111.70, which indicates the continuation of the fall of the pair.
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