Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the 112.77 area. The pair continues to move within the bullish channel. At the moment, we should expect an attempt to test the support level near the 111.90 area and continue the growth of the pair to the area above 115.25.
USD/JPY weekly forecast & analysis November 5 — 9, 2018
In favor of the growth of a pair of Dollar/Yen will test the rising trend line on the indicator of relative strength index (RSI), as well as a rebound from the lower boundary of the rising channel. The cancellation of the growth option of the USD/JPY pair in the current trading week of November 5 — 9, 2018 will be a fall and a breakdown of the 110.80 area. This option will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the pair on Forex to the area below the level of 108.55. Confirmation of growth in the pair USD/JPY will be the breakdown of the resistance area and closing above the level of 113.95.
USD/JPY weekly forecast & analysis November 5 — 9, 2018 suggests an attempt to test the support level near the area of 111.90, where we can expect the pair to continue to decline below 115.25, an additional signal in favor of growth will be the support line test on the relative strength index (RSI), the cancellation of the pair growth option will be a fall and a breakdown of the level of 110.80, which will indicate a continued decline in the pair.
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