Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 107.55. At this point, we should expect an attempt to test the resistance level near the area of 108.00 and continue the fall of the pair into the area below the level of 101.60.
USD/JPY weekly forecast April 23 — 27, 2018
In favor of the fall of the pair, the Dollar/Yen will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the USD/JPY fall in the current trading week will be strong growth and breakdown of the area of 109.50, which will indicate the breakdown of the resistance level and the continued growth of the pair on Forex to the upper boundary of the bearish channel. Confirmation of the fall of the pair will be the breakdown of the support area and the closing below the level of 105.50.
USD/JPY weekly forecast April 23 — 27, 2018 suggests a test of the resistance level near the area of 108.00, from which it is expected to continue falling of the pair into the area below the level of 101.60, an additional signal in favor of the fall will be a trend line test on the indicator of relative strength index (RSI), the cancellation of the fall of the pair will be a breakdown at level 109.50, indicating that the pair continues to grow.
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