Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 111.22. The pair continues to move within the framework of growth. At this point we should expect an attempt to test the support level near the area of 110.80 and continue the growth of the pair in the area above the level of 114.60.
USD/JPY weekly forecast & analysis August 6 — 10, 2018
In favor of the pair’s growth, the Dollar/Yen will test the trend line on the indicator of relative strength index (RSI). The cancellation of the growth of the pair USD/JPY on the current trading week on August 6 — 10, 2018 will be the fall and the breakdown of the area of 109.70, which will indicate the breakdown of the lower border of the rising channel and the continuation of the fall of the pair to Forex below 107.05. Confirmation of the development of growth for the pair will break through the resistance area and the closing above the level of 112.20.
USD/JPY weekly forecast & analysis August 6 — 10, 2018 suggests a test of the support level near the 110.80 area, from where it is expected to continue the decline of the pair into the area below the level of 114.60, 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 109.70, indicating that the pair will continue to decline.