Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 111.15. The pair continues to move within the framework of growth. At this point, we should expect an attempt to test the resistance level near the area of 111.70 and continue the decline of the pair into the area below the level of 108.70.
USD/JPY weekly forecast & analysis July 30 — August 3, 2018
In favor of the growth of the fall, the Dollar/Yen will perform a test of a broken trend line on the indicator of relative strength index (RSI). The cancellation of the USD/JPY decline in the current trading week on July 30 — August 3, 2018 will result in a strong growth and breakdown of the 112.50 area, which will indicate the breakdown of the upper limit of the bearish channel and the continued growth of the pair on Forex to the level above 114.75. Confirmation of the fall in the pair will be the breakdown of the support area and the closure below the level of 108.50.
USD/JPY weekly forecast & analysis July 30 — August 3, 2018 suggests a resistance level test near the area of 111.70, from which it is expected to continue reducing the pair to below the level of 108.70, an additional signal in favor of the fall will be a resistance line test on the relative strength index (RSI), the cancellation of the fall of the pair will be a strong growth and breakdown of the level of 112.50, indicating that the pair continues to grow.