Quotes of the pair USD/JPY close the trading week near the area of 111.90. The pair continued to move within the bearish channel. It is expected to rebound from the upper boundary of the channel and continue falling into the area below the level of 108.00.
USD/JPY weekly forecast on October 16 — 20, 2017
In favor of reducing the pair is a rebound from the resistance line on the indicator of relative strength index (RSI). The cancellation of the fall of the pair USD/JPY in the current trading week will be strong growth and breakdown of the 114.00 area, which will indicate the continued growth of the pair on Forex. Expect to accelerate the fall is with the breakdown of the level of 111.50.
Important news from Japan, which may have an impact on the rate of the Japanese Yen, is not expected, so the pair will continue to move in the technical analysis.
USD/JPY weekly forecast on October 16 — 20, 2017 suggests a test of the upper limit of the descending channel, from which it is expected to continue the decline of the Japanese Yen in the area below the level of 108.00, the cancellation of the fall may be the breakdown of the 114.00 area, which will indicate the outflow of quotes for the channel and the continued growth of the Dollar/Yen pair.
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