Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading area near the 112.25 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 111.05 area and continue the growth of the pair to the area above the 115.35 level.
USD/JPY weekly forecast & analysis October 15 — 19, 2018
In favor of the growth of a pair of Dollar/Yen will test the bullish trend line on the indicator of relative strength index (RSI), as well as a rebound from the lower boundary of the bullish channel. Cancellation of the growth option of the USD/JPY pair in the current trading week of October 15 — 19, 2018 will be a fall and a breakdown of the 110.20 area, which will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the Forex pair to the area below 108.55. Confirmation of growth in the pair USD/JPY will be the breakdown of the resistance area and closing above the level of 113.65.
Among the important news from Japan that may have an impact on the Japanese Yen rate, it is worth mentioning: Consumer price index.
USD/JPY weekly forecast & analysis October 15 — 19, 2018 suggests an attempt to test the support level near the 111.05 area, from where we can expect the pair to continue to decline to the area below 115.35, 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 the fall and the breakdown of the level of 110.20, which will indicate a continued decline in the pair.