Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within expectations, and currently the pair is trading below the support area at 109.65. It is expected to continue falling to the area below the level of 108.50.
Technical analysis and Forecast USD/JPY on April 12, 2017
In favor of the fall comes the breakdown of the upward support line on the relative strength indicator, which indicates that the pair USD/JPY continues to fall below the local minimum level. The cancellation of the option could be the strong growth of the Yen Dollar pair above the area of 1110.40, indicating that the growth will continue to the level above the level of 111.40.
Important news from Japan is not expected, so the pair will continue to move within the technical analysis of USD/JPY.
Technical analysis and Forecast USD/JPY on April 12, 2017 suggests an attempt to continue falling after the test of the broken resistance area, the target of the fall is the area at a level below 108.50.
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