Quotes currency pair Dollar Yen USD JPY continues to move in the descending channel and currently have the capacity to rebound the pair quotes in a region at the level of 114.40, from which we can expect a rebound and began falling under the mining reversal forex model’s head and shoulders with the potential to reduce on below 111.00 area.
Forex forecast Dollar Yen (USD/JPY) on February 17, 2017
Cancellation option will be a breakdown of the field of local maximum and the closing quotations of the pair above the 115.00 level that points to continued growth of quotations pair Dollar Yen further up in the area above the level of 116.50.
In favor of a continuation of the fall is the breakdown of the support line on the indicator of relative strength. Important news from Japan is expected tomorrow, so the pair will continue to move in the technical analysis of USD/JPY.
Forex forecast Dollar Yen (USD/JPY) on February 17, 2017 suggests an attempt to fall within the beginning of working out a reversal forex head and shoulders pattern with a potential to reduce to below 111.00 area.
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