Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 112.37. The pair continues to move within the bullish trend. 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 23 — 27, 2018
In favor of the growth of the pair, the Dollar/Yen will test the trend line on the relative strength indicator, as well as test the upper boundary of the bearish channel. Canceling the growth of the pair USD/JPY on the current trading week on July 23 – 27, 2018 will be a drop and a 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 on Forex to below the level of 108.20. Confirmation of the bullish 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 23 — 27, 2018 suggests a test of the support level near the area of 111.80, 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 test the support line on the indicator of relative strength 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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