Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the limits of growth. At this point, we should expect an attempt to test the upper limit of the model «Triangle» near the level of 109.90 and continue the growth of the pair in the area above the level of 111.20.
USD/JPY forecast & technical analysis May 17, 2018
In favor of the growth of the pair USD/JPY will test the bullish trend 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 breakdown of the lower bound of the «Triangle» model and the continued decline of the Dollar/Yen pair with a target below 107.50. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing above the level of 110.45.
USD/JPY forecast & technical analysis May 17, 2018 suggests an attempt of testing the support area near the level of 109.90 and the continuation of the growth of quotations in the area above the level of 111.20, in favor of the growth of the pair, the trend line test will be performed on the indicator of relative strength index (RSI).