Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the 113.57 area. The pair continues to move within the bullish channel. Moving averages indicate an uptrend. At the moment, we should expect an attempt to decrease and test the support level near the 112.35 area. Then rebound and continued growth of the pair to the area above the level of 116.75.
USD/JPY weekly forecast & analysis December 17 — 21, 2018
In favor of the growth of a pair of Dollar/Yen will test the support line on the indicator of relative strength index (RSI). As well as a rebound from the lower boundary of the model «Triangle». Cancellation of the growth option of the pair USD/JPY in the current trading week from December 17 — 21, 2018 will be a fall and a breakdown of the area of 111.90. This option will indicate a breakdown of the lower boundary of the «Triangle» model and the continuation of the fall of the pair on Forex to the area below the level 108.05. Confirmation of the development of an upward trend for the pair USD/JPY will be a breakdown of the upper boundary of the «Triangle» model and a close above the level of 114.65.
Among the important news from Japan, which may have an impact on the Japanese Yen rate, it is worth mentioning: The decision on the interest rate of the Bank of Japan, Comment on monetary policy, Press conference of the Bank of Japan.
USD/JPY weekly forecast & analysis December 17 — 21, 2018 involves an attempt to test the support level near the 112.35 area. Where can we expect to continue the growth of the pair in the area above the level of 116.75. An additional signal in favor of growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth of the pair will be the fall and the breakdown level 111.90. This will indicate a continued decline in the pair.
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