Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the bearish trend. At this point, we should expect an attempt to test the support level near the area of 105.50 and continue the growth of the pair in the area above the level of 106.40.
USD/JPY forecast & technical analysis March 20, 2018
In favor of the growth of the pair USD/JPY will test the support area on the indicator of relative strength, as well as the formation of the reversal model «Head and shoulders». The cancellation of the growth variant of the Dollar/Yen pair will be a fall and a breakdown of the level of 105.00, which will indicate a breakdown of the local minimum and the continuation of the fall of the Dollar/Yen pair. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and closing above 107.30.
USD/JPY forecast & technical analysis March 20, 2018 involves trying to test the support level near the 105.50 area and continuing the growth of quotations to an area above the level of 108.40, in favor of growth, the trend line test will perform on the relative strength index (RSI).
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