Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the framework of the bullish correction. At the moment, we should expect an attempt to test the resistance area near the level of 110.60 and continue the fall of the pair into the area below the level of 109.00 as part of the development of the bearish «Wolfe Wave» model.
USD/JPY forecast & technical analysis June 12, 2018
In favor of reducing the pair USD/JPY will perform a downtrend test 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 110.95 breakdown, which will indicate the continued growth of the Dollar/Yen pair with a target above the level of 111.85. With the breakdown of the bullish trend line and the closing below the level of 109.40, one should expect confirmation of the fall of the pair.
USD/JPY forecast & technical analysis June 12, 2018 suggests an attempt to test the resistance area near the level of 110.60 and the continuation of the fall of quotations in the area below the level of 109.00, in favor of falling from the current levels will test the trend line on the indicator of relative strength index (RSI), strong growth and breakdown of the region of 111.85, which indicates the continued growth.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
