Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue moving within the framework of correction and formation of the «Head and Shoulders» reversal model. At this point, we should expect an attempt to test the area of the upper boundary of the bearish channel near the level of 110.40 and continue the fall of the pair into the area below the level of 107.80.
USD/JPY forecast & technical analysis June 22, 2018
In favor of the fall of the pair USD/JPY will perform a bearish trend 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 110.85 breakdown, 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 closure below the level of 109.00, we should expect a confirmation of the decline in the pair.
USD/JPY forecast & technical analysis June 22, 2018 suggests an attempt to test the resistance area near the level of 110.40 and the continuation of the fall of quotations in the area below the level of 107.80, in favor of the fall the trend line test will perform on the relative strength index (RSI).
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