Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 110.64. At this point, we should expect an attempt to test the support level near the area of 109.65 and continue the growth of the pair in the area above the level of 114.25.
USD/JPY weekly forecast July 2 — 6, 2018
In favor of the pair’s growth, the Dollar/Yen will test the uptrend line on the relative strength index (RSI). Canceling the growth of the pair USD/JPY in the current trading week will be a fall and breakdown of the area of 107.80, which will indicate the breakdown of the lower limit of the «Triangle» model and the continuation of the fall of the pair to Forex below 105.50. Confirmation of the upward trend in the pair will be the breakdown of the upper boundary of the descending channel and the closing above the level of 111.55.
USD/JPY weekly forecast July 2 — 6, 2018 suggests a test of the support level near the 109.65 area, from where it is expected to continue the pair’s growth to the level above 114.25, 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 of the level of 107.80, which will indicate the continuation of the fall of the pair.
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