Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the region 111.16. The pair continues to move within the fall. Moving averages indicate an uptrend. At the moment, we should expect an attempt to rise and test the resistance level near the area of 111.90. Then rebound and the continuation of the fall of the pair in the area below the level of 108.55.
USD/JPY weekly forecast & analysis December 24 — 28, 2018
In favor of the fall of the pair Dollar/Yen will test the broken trend 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 option to reduce the pair USD/JPY in the current trading week December 24 — 28, 2018 will be a strong growth and a breakdown of the area of 112.85. This option will indicate a breakdown of the lower boundary of the «Triangle» model and the continued growth of the FOREX pair in the area above 115.45. Confirmation of the downward trend in the pair USD/JPY will be the breakdown of the support area and the closing below 110.35.
Among the important news from Japan that may have an impact on the Japanese Yen rate, it is worth highlighting: Speech by the Chairman of the Bank of Japan, Retail Sales.
USD/JPY weekly forecast & analysis December 24 — 28, 2018 implies 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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