Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the framework of the bullish correction. At this point, we should expect an attempt to test the resistance area near the level of 110.70 and the continuation of the fall of the pair into the area below the level of 108.80 within the framework of working off the bearish «Wolfe Wave» model.
USD/JPY forecast & technical analysis June 19, 2018
In favor of reducing the pair USD/JPY, a downtrend test on the relative strength index (RSI) will perform, as well as the formation of the head and shoulders reversal model. The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and breakdown at level 111.10, which will indicate the continued growth of the Dollar/Yen pair with a target above the level of 112.50. With the breakdown of the support area and the closing below the level of 109.80, one should expect confirmation of the fall of the pair.
USD/JPY forecast & technical analysis June 19, 2018 suggests an attempt to test the resistance area near the level of 110.70 and the continuation of the fall of quotations in the area below the level of 108.80, 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 area of 111.10, which indicates the continued growth.
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