Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the correction. At the moment, we should expect an attempt to test the resistance area near the level of 108.95 and continue falling of the pair into the area below the level of 107.50.
USD/JPY forecast & technical analysis June 1, 2018
In favor of the fall of the pair USD/JPY, the trendline test will be performed on the indicator of relative strength index (RSI). The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and breakdown at 109.30, which will indicate the continued growth of the Dollar/Yen pair with a target above the level of 110.55. To expect confirmation of the fall of the pair is with the breakdown of the lower bound of the «Triangle» model and the closing below the level of 108.45.
USD/JPY forecast & technical analysis June 1, 2018 suggests an attempt to test the resistance area near the level of 108.95 and the continuation of the fall of quotations to the area below the level of 107.50, in favor of the fall, the trendline test will be performed on the relative strength index (RSI).
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