Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the bullish channel. At this point, we should expect an attempt to test the support area near the level of 109.40 and continue the pair’s growth in the area above the level of 111.25.
USD/JPY forecast & technical analysis May 3, 2018
In favor of the growth of the pair USD/JPY will test the upward 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 a level break at 108.80, which will indicate the breakdown of the lower border of the channel and the continued decline of the Dollar/Yen pair with a target below 107.90. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing above the level of 110.20.
USD/JPY forecast & technical analysis May 3, 2018 suggests an attempt to test the bullish channel’s lower border near the area of 109.40, and the continued growth of quotations in the area above the level of 111.45, in favor of growth of pair will perform a test of the trend line on the indicator of relative strength index (RSI), the cancellation option growth will fall and breakdown of the region 108.80.
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