Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 112.58. At this point, we should expect an attempt to test the support level near the area of 111.80 and continue the growth of the pair in the area above the level of 115.80.
USD/JPY weekly forecast & analysis July 16 — 20, 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 upper boundary of the bearish channel. The cancellation of the growth of the pair USD/JPY on the current trading week on July 16 — 20, 2018 will be the fall and the breakdown of the area of 110.50, which will indicate the breakdown of the upper boundary of the bearish channel and the continuation of the fall of the pair to Forex below 108.20. Confirmation of the upward trend in the pair will be the breakdown of the resistance area and the closing above the level of 114.55.
USD/JPY weekly forecast & analysis July 16 — 20, 2018 suggests a test of the support level near the 110.80 area, from where it is expected to continue the pair’s growth to the area above the level of 115.80, an additional signal in favor of growth will be a test of the support line on the indicator of relative index (RSI), canceling the growth of the pair will be a drop and a breakdown of the level of 110.50, indicating that the pair will continue to decline.
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