Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 109.61. At this point, we should expect an attempt to test the resistance level near the area of 110.50 and continue falling of the pair into the area below the level of 104.40.
USD/JPY weekly forecast June 4 — 8, 2018
In favor of the fall of the pair, the Dollar/Yen will test the resistance line on the relative strength indicator, as well as the formation of the reversal model «Double Top». The cancellation of the USD/JPY fall in the current trading week will result in a strong growth and breakdown of the 112.50 area, which will indicate the breakdown of the upper border of the channel and the continued growth of the pair on FOREX to the area above 114.50. Confirmation of the fall of the pair will be the breakdown of the support area and the closing below the level of 107.50.
USD/JPY weekly forecast June 4 — 8, 2018 suggests an attempt to test the resistance level near the area of 110.50, from where it is expected to continue falling of the pair into the area below the level of 104.50, an additional signal in favor of the fall will be a test of the trend line on the indicator of relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
