Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 109.33. At this point, we should expect an attempt to test the resistance level near the area of 110.50 and continue the fall of the pair into the area below the level of 104.85.
USD/JPY weekly forecast May 28 — June 1, 2018
In favor of the fall of the pair, the Dollar/Yen will test the resistance line on the relative strength index (RSI, as well as the formation of the «Head and Shoulders» reversal model. The cancellation of the USD/JPY fall in the current trading week will be strong growth and breakdown of the area of 111.55, 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 lower boundary of the channel and the closing below the level of 108.50.
USD/JPY weekly forecast May 28 — June 1, 2018 suggests a resistance level test near the 110.50 area, from where it is expected to continue falling below 104.85, an additional signal in favor of the fall will be a trend line test on the relative strength index (RSI), the cancellation of the fall of the pair will be strong growth and breakdown at level 111.55, which will indicate the continued growth of the pair.
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