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 bottom of the channel near the level of 110.65 and continue the growth of the pair in the area above the level of 112.80.
USD/JPY forecast & technical analysis May 23, 2018
In favor of the growth of the pair USD/JPY, a bullish test on the relative strength index (RSI) will perform, as well as a support level test. The cancellation of the growth variant of the Dollar/Yen pair will result in a drop and breakdown at the level of 110.25, which will indicate the breakdown of the lower boundary of the bullish channel and the continued decline of the Dollar/Yen pair with a target below the level of 108.50. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing above the level of 111.55.
USD/JPY forecast & technical analysis May 23, 2018 suggests an attempt of testing the support area near the level of 110.65 and the continuation of the growth of quotations to the area above the level of 112.80, in favor of the pair’s growth, the trend line test on the indicator of relative strength index (RSI) will come out, breakdown of the area 110.25.