Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the bullish channel. At the moment, we should expect the test of the support area test near the level of 109.40 and the continuation of the pair’s growth in the area above the level of 110.45.
USD/JPY forecast & technical analysis May 4, 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 the level of 108.95, 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 the level of 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 4, 2018 suggests an attempt to test the bottom of the upside channel near the area of 109.40 and the continuation of the growth of quotations to the area above the level of 110.45, in favor of the pair’s growth, the trend line test will be performed on the relative strength index (RSI).
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