Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the framework of the decline and formation of the «Triangle» model. At the time of publication of the forecast, the rate of the US Dollar to the Japanese Yen is 111.10. At the moment, we should expect a test of the resistance area near the level of 111.35 and continuation of the fall of the pair USD/JPY in the area below the level of 110.05.
USD/JPY forecast & technical analysis July 26, 2018
In favor of reducing the pair USD/JPY will test the trend line on the indicator of relative strength index (RSI), as well as test the upper boundary of the bearish channel. The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and breakdown at level 111.65, which will indicate the breakdown of the upper bound of the «Triangle» model and the continued growth of the Dollar/Yen pair with a target above the level of 112.50. With the breakdown of the lower bound of the «Triangle» model and the closing of quotations below the level of 110.80, one should expect confirmation of the development of a downward trend in the pair.
USD/JPY forecast & technical analysis July 26, 2018 suggests a test of the resistance area near the level of 111.35 and the continuation of the decline of quotations in the area below the level of 110.05, in favor of the fall of the pair, the trend line test will be performed on the indicator of relative strength index (RSI).
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