Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of 113.89. The pair continues to move within the bullish channel. At the moment, we should expect an attempt to test the support level near the 112.00 area and continue the pair’s growth to the area above the 115.95 level.
USD/JPY weekly forecast & analysis October 8 — 12, 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. Cancellation of the growth of the pair USD/JPY in the current trading week of October 8 — 12, 2018 will be a fall and a breakdown of the area of 111.40, which 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 108.55. Confirmation of growth in the pair USD/JPY will be the breakdown of the resistance area and closing above the level of 114.55.
USD/JPY weekly forecast & analysis October 8 — 12, 2018 suggests an attempt to test the support level near the 112.00 area, from which we can expect the pair to continue to decline to the area below 115.95, 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 111.40, which will indicate a continued decline in the pair.
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