Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the limits of the decline. At the time of publication of the forecast, the US Dollar rate against the Japanese Yen is 111.05. At the moment, we should expect the test of the support area test near the level of 110.65 and the continued growth of the pair USD/JPY in the area above the level of 112.45.
USD/JPY forecast & technical analysis July 25, 2018
In favor of the growth of the pair USD/JPY will perform a test of the support area on the indicator of relative strength index (RSI), 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 level 109.60, 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 108.40. 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 25, 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 112.45, in favor of the growth of the pair, the support area test will be performed on the indicator of relative strength index (RSI).
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