Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the correction. At this point, we should expect an attempt to test the resistance area near the level of 108.90 and continue the fall of the pair in the area below the level of 107.30.
USD/JPY forecast & technical analysis May 31, 2018
In favor of the fall of the pair USD/JPY, the trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and breakdown at 109.30, which will indicate the continued growth of the Dollar/Yen pair with a target above the level of 110.55. To expect confirmation of the fall of the pair is with the breakdown of the lower boundary of the bearish channel and the closing below the level of 107.70.
USD/JPY forecast & technical analysis May 31, 2018 suggests an attempt to test the resistance area near the level of 108.90 and the continuation of the fall of quotations in the area below the level of 107.30, in favor of the fall, the trend line test will be performed on the indicator of relative strength index (RSI).
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