Quotes of the US Dollar to Japanese Yen USD/JPY continue to move within the framework of the upward correction and at the moment the pair is testing the area of the upper boundary of the descending channel. We should expect a rebound and a fall in the support area near the level of 111.85, where we can expect the pair to continue growing. The cancellation of the option will be the breakdown of the area of 111.50, which will indicate the continuation of the decline in the pair of Yen Dollar.
USD/JPY Forecast US Dollar to Japanese Yen on May 5, 2017
Important news from Japan is not expected, so the pair will continue to move within the technical analysis of USD/JPY.
USD/JPY Forecast US Dollar to Japanese Yen on May 5, 2017 suggests an attempt to fall to the area of 111.85 within the rebound from the upper boundary of the downward channel, in the case of breakdown of the region 113.10, it is expected to accelerate the growth of the pair of Yen Dollar pairing with a potential growth target near the area of 115.50 .
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