Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the bearish channel. At this point, we should expect an attempt to test the support area near the level of 110.25 and continue to grow the pair in the area above the level of 112.40.
USD/JPY forecast & technical analysis June 29, 2018
In favor of the growth of the pair USD/JPY will break the resistance line on the indicator of relative strength index (RSI). The cancellation of the growth variant of the Dollar/Yen pair will result in a drop and breakdown at level 109.20, which will indicate the continued decline of the Dollar/Yen pair with a target below 108.00. With the breakdown of the upper boundary of the descending channel and the closing above the level of 110.95, one should expect confirmation of the development of the bullish movement in the pair.
USD/JPY forecast & technical analysis June 29, 2018 suggests an attempt to test the support area near the level of 110.25 and continue the growth of quotations to the area above the level of 112.40, in favor of the pair’s growth, breakdown of the resistance line on the indicator of relative strength index (RSI).
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