Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 111.81. The pair continues to move within the bullish channel, as well as the formation of the «Triangle» model. At this point, we should expect an attempt to test the support level near the area of 111.05 and continue the growth of the pair in the area above the level of 115.10.
USD/JPY weekly forecast & analysis September 17 — 21, 2018
In favor of the pair’s growth, the Dollar/Yen will test the uptrend line on the relative strength index (RSI), as well as the lower bound of the «Triangle» model. The cancellation of the growth of the pair USD/JPY on the current trading week on September 17 — 21, 2018 will be the fall and breakdown of the 109.30 area, which will indicate the breakdown of the lower bound of the «Triangle» model and the continuation of the fall of the pair to Forex below 106.55. Confirmation of the growth of the pair USD/JPY will break the upper limit of the model and the closing above the level of 112.55.
Among the important news from Japan that can influence the rate of the Japanese Yen, it is worth highlighting: The decision on the interest rate of the Bank of Japan, Commentary on monetary policy, Press Conference of the Bank of Japan.
USD/JPY weekly forecast & analysis September 17 — 21, 2018 suggests a test of the support level near the area of 111.05, from where it is expected to continue the decline of the pair in the area below the level of 115.10, an additional signal in favor of growth will perform a test of the support line on the indicator of relative strength index (RSI), canceling the growth of the pair will be a drop and breakdown at 109.30, indicating that the pair will continue to decline.
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