Quotes Dollar Yen currency pair USD JPY continues to move in the forex model inverted head and shoulders in order to develop the field above 118.00. In favor of a growth from current levels in favor tight test the support line on the indicator of relative strength.
USD JPY Forecast Dollar on February 21, 2017
The immediate goal of growth of quotations of dollar yen pair is the area of the neckline at a level above the area of 114.45. Cancellation option will make the breakdown of growth of pair 112.00 level that points to a continuation of the downward trend for the pair.
Expect faster growth is a breakdown field of 114.60 that will indicate quotations going beyond the neck line forex reversal patterns. We breakdown buying the pair with the tight stop loss and we are ready to increase the volume of purchases by the development of an upward movement for the pair.
Important news from Japan is expected tomorrow, so the pair will continue to move in the technical analysis of USD/JPY.
USD JPY Forecast Dollar on February 21, 2017 assumes the growth of quotations in an attempt to start mining within the forex pivot model head and shoulders with a potential upside target above the 118.00 area.
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