The Currency pair US Dollar Japanese Yen USD/JPY continues to move within a strong downward trend and is trading at 110.56. At the moment, there is the potential for the completion of the fall in the Yen Dollar quotations and the beginning of the reversal for the purpose of growth above the level of 111.90. A strong signal in favor of the pair’s growth is the formation of the reversal Forex Model Head and shoulders on the MACD indicator.
MACD Forecast USD/JPY Japanese Yen on March 29, 2017
The histogram values of the indicator have completed the formation of the right shoulder and at the moment the signal line also left the histogram limits, which is a strong signal in the purchase of the pair USD/JPY. The cancellation of the beginning of the pair’s growth will be the continuation of the decline and the breakdown of the area of 109.70, as well as the fall of the histogram values below the signal line, which will indicate the reversal of the reversal pattern on the pair USD/JPY.
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