Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading area near the 111.96 area. The pair continues to move within the bullish channel. At the moment, we should expect an attempt to test the support level near the 111.25 area and continue the pair’s growth to the area above the level of 114.65.
USD/JPY weekly forecast October 29 — November 2, 2018
In favor of the growth of a pair of Dollar/Yen will test the rising trend line on the indicator of relative strength index (RSI), as well as a rebound from the lower boundary of the bullish channel. Cancellation of the growth of the pair USD/JPY in the current trading week of October 29 — November 2, 2018 will be a fall and a breakdown of 110.30, indicating a breakdown of the lower boundary of the channel and the continuation of the fall of the pair on Forex to the area below 108.55. Confirmation of growth in the pair USD/JPY will be the breakdown of the resistance area and closing above the level of 113.15.
Among the important news from Japan, which may have an impact on the Japanese Yen rate, it is worth highlighting: The decision on the interest rate of the Bank of Japan, the Press Conference of the Bank of Japan, Comment on the monetary policy.
USD/JPY weekly forecast October 29 — November 2, 2018 suggests an attempt to test the support level near the 111.25 area, from where we can expect the pair to continue to decline below 114.65, an additional signal in favor of growth will be the support line test on the relative strength index (RSI), the cancellation of the growth option of the pair will fall and the breakdown of the level of 110.30, which will indicate a continued decline in the pair.