Currency pair US Dollar to Japanese Yen USD/JPY continues to move within the framework of the formation of the bullish pattern «5-0». It is worth waiting for an attempt to test the lower border of the ascending channel, where one can consider buying a pair with a close Stop-loss.
USD JPY forecast & analysis on May 24, 2017
In favor of the growth of the pair US Dollar to Japanese Yen USD/JPY, the formation of a reversal model on the relative strength indicator index (RSI) appears, indicating a breakdown of the 112.00 area by closing prices. Cancellation of the growth of the pair will drop the breakdown of the area of 109.50, indicating that the pair will continue to decline.
Among the important news from Japan, which can have a strong impact on the Japanese Yen against the US Dollar, is the following: Speech by Head of the Bank of Japan Haruhiko Kuroda.
USD JPY forecast & analysis on May 24, 2017 suggests an attempt to test the bottom of the upside of the forex pattern «5-0» and begin to rise to an area above the level of 114.50, the breakdown will be a breakdown of the area of 109.50, which will indicate continuation of the pair USD/JPY.
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