Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 109.10. At this point, we should expect an attempt to test the support level near the area of 107.50 and continue the growth of the pair to an area above the level of 111.50.
USD/JPY weekly forecast May 7 — 11, 2018
In favor of the pair’s growth, the Dollar/Yen will test the support line on the relative strength index (RSI). The cancellation of the growth of the pair USD/JPY in the current trading week will be the fall and breakdown of the area of 106.00, which will indicate the breakdown of the support level and the continued growth of the pair on Forex to the lower boundary of the bearish channel. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above the level of 110.50.
USD/JPY weekly forecast May 7 — 11, 2018 assumes a test of the support level near the 107.50 area, from where it is expected to continue the pair’s growth to the area above the level of 111.50, an additional signal in favor of growth will test the trend line on the indicator of relative strength , the cancellation of the pair’s growth option will be a breakdown of the level of 106.00, which will indicate the continuation of the fall of the pair.
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