Quotes of the dollar yen currency pair USD JPY continues to test the area of a local maximum. At the moment, there is seen a pair of correction in the region of the rising channel’s lower border, where once again we can expect growth to attempt higher level 116.
USD JPY forecast dollar exchange rate on December 2, 2016
Cancellation option will drop in prices below the level of 112.40, which will point to a continuation of a downward correction. The signal for the development of a serious fall will sample 111.50 areas, in this case, we can expect the fall in quotations below the level of 108.50. Among the important news that could affect the Japanese yen tomorrow, December 2, 2016 stands out, change in the volume of money supply, it is expected a slight change in the index at the level of 22.1% to 23.2%.
USD JPY forecast dollar exchange rate on December 2, 2016 suggests an attempt to correct the lower boundary of the rising pattern of 1:1, which is again, expected continued growth of quotations of the US dollar against the Japanese yen.
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