Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 110.88. The pair continues to move within the bullish channel. At this point, we should expect an attempt to test the support level near the area of 110.70 and continue the growth of the pair to an area above the level of 117.50.
USD/JPY weekly forecast & analysis August 13 — 17, 2018
In favor of the growth of the pair, the Dollar/Yen will test the trend line on the relative strength index (RSI), as well as test the lower boundary of the bullish channel. Canceling the growth of the pair USD/JPY on the current trading week on August 13 — 17, 2018 will be a fall and breakdown of the area of 109.20, which will indicate the breakdown of the lower border of the rising channel and the continuation of the fall of the pair on Forex to the level below the level of 106.25. Confirmation of growth on the pair will be a breakdown of the upper boundary of the bearish channel and the closing above the level of 112.50.
USD/JPY weekly forecast & analysis August 13 — 17, 2018 suggests a test of the support level near the 110.70 area, from which it is expected to continue the pair’s decline to the area below the level of 117.50, an additional signal in favor of growth will be a test of the support line on the indicator of relative strength index (RSI), canceling the growth of the pair will be a drop and a breakdown at 109.20, indicating that the pair will continue to decline.