Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the bullish channel. At the time of publication of the forecast, the US Dollar rate against the Japanese Yen is 111.56. At the moment, we should expect an attempt to test the support area near the level of 111.35 and continue the growth of the pair USD/JPY in the area above the level of 112.15.
USD/JPY forecast & technical analysis September 6, 2018
In favor of the growth of the pair USD/JPY, a trend line test will be performed 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 111.05, which will indicate the breakdown of the lower boundary of the rising channel and the continued decline of the Dollar/Yen pair with a target below the level of 110.70. With the breakdown of the resistance area and the closing of quotations above the level of 111.75, one should expect confirmation of the development of the upward movement in the pair.
USD/JPY forecast & technical analysis September 6, 2018 assumes an attempt to test the support area near the level of 111.35 and the continuation of the growth of quotations to the area above the level of 112.15, in favor of the pair’s growth the trend line test on the indicator of relative strength index (RSI) will come out.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
