Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 110.78. The pair continues to move within the bullish channel. At this point, we should expect an attempt to test the support level near the area of 110.50 and continue the growth of the pair in the area above the level of 114.70.
USD/JPY weekly forecast & analysis September 3 — 7, 2018
In favor of the pair’s growth, the Dollar/Yen will test the uptrend line on the relative strength index (RSI). The cancellation of the USD/JPY pair growth option on the current trading week on September 3 — 7, 2018 will be the fall and breakdown of the 109.10 area, which will indicate the breakdown of the support area and the continued fall of the pair on Forex to the area below the level of 106.55. A confirmation of the development of growth for the pair USD/JPY will be the breakdown of the upper boundary of the bearish channel and the closing above the level of 112.50.
Among the important news from Japan, which can have an impact on the rate of the Japanese Yen, it is worth highlighting: Speech by the head of the Bank of Japan.
USD/JPY weekly forecast & analysis September 3 — 7, 2018 suggests a test of the support level near the 110.50 area, from where it is expected to continue the decline of the pair to the area below the level of 114.70, an additional signal in favor of growth will be 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 a breakdown at 109.10, indicating that the pair will continue to decline.
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