Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the 113.85 area. The pair continues to move within the bullish channel. At the moment, we should expect an attempt to test the resistance level near the area of 114.50. Then rebound and the continuation of the fall of the pair in the area below the level of 109.85.
USD/JPY weekly forecast & analysis November 12 — 16, 2018
In favor of reducing the pair Dollar/Yen will test the trend line on the indicator of relative strength index (RSI). As well as the formation of the «Head and Shoulders» reversal pattern. Cancellation of the option to reduce the pair USD/JPY in the current trading week of November 12 — 16, 2018 will be a strong growth and a breakdown of the area of 115.20. This option will indicate the breakdown of the resistance area and the continued growth of the pair on Forex to the area above the level of 117.55. Confirmation of the decline in the pair USD/JPY will be a breakdown of the support area and closing below 111.20. This will indicate the completion of the formation of the head and shoulders reversal pattern.
Among the important news from Japan that may have an impact on the Japanese Yen rate, it is worth highlighting: Changes in the volume of GDP.
USD/JPY weekly forecast & analysis November 12 — 16, 2018 involves an attempt to test the resistance level near the area of 114.50. Where can we expect to continue to reduce the pair in the area below 109.85. An additional signal in favor of the fall is the test of the trend line on the relative strength index (RSI). Cancellation of the fall of the pair will be a strong growth and the breakdown level of 115.20. This will indicate continued growth of the pair.
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