Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the limits of the decline. At this point, we should expect an attempt to test the upper boundary of the bearish channel near the area of 106.40 and continue the fall of the pair into the area below the level of 104.40. In favor of reducing the pair USD/JPY, a resistance area test will be performed on the relative strength index (RSI).
USD/JPY forecast & technical analysis March 7, 2018
The cancellation of the fall variant of the Dollar/Yen pair will result in strong growth and a breakdown of the level of 107.00, which will indicate the breakdown of the upper border of the channel and the continued growth of the Dollar/Yen pair. To expect confirmation of the fall of the pair is with the breakdown of the support area and closing below 105.20.
USD/JPY forecast & technical analysis March 7, 2018 suggests an attempt to test the upper boundary of the bearish channel near the 106.40 area and the continuation of the fall of quotations in the area below the level of 104.40, in favor of the fall, a downtrend test on the relative strength index (RSI) will perform.
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