Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the framework of a strong decline. At the time of publication of the forecast, the US Dollar rate against the Japanese Yen is 111.11. At the moment, we should expect an attempt to test the support area near the level of 110.65 and continue the growth of the pair USD/JPY in the area above the level of 113.50.
USD/JPY forecast & technical analysis July 24, 2018
In favor of the growth of the pair USD/JPY, an uptrend test on the relative strength index (RSI) will perform, as well as a test of the lower boundary of the channel. The cancellation of the growth variant of the Dollar/Yen pair will result in a drop and breakdown at 109.70 level, which will indicate the breakdown of the support area and the continued decline of the Dollar/Yen pair with a target below 118.40. With the breakdown of the resistance area and the closing above the level of 111.65, one should expect confirmation of the development of the bullish movement in the pair.
USD/JPY forecast & technical analysis July 24, 2018 suggests an attempt of testing the support area near the level of 110.65 and the continuation of the growth of quotations to the area above the level of 113.50, in favor of the pair growth, the support area test will be performed on the indicator of relative strength index (RSI).
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