Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 113.43. The pair continues to move within the ascending channel. Moving averages indicate a bullish trend. 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 3 — 7, 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 of the pair USD/JPY in the current trading week of December 3 — 7, 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 of 108.05. Confirmation of the upward trend in the pair USD/JPY will be the breakdown of the resistance area and the closure above the level of 114.50.
USD/JPY weekly forecast & analysis December 3 — 7, 2018 suggests 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.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
