Quotes of the dollar yen currency pair USD JPY continues to move in the beginning of the mining bullish wave pattern Wolfe forex Wedge pattern and, at the moment the pair quotes struck the upper boundary of the model, which indicates that an attempt to continue the growth of quotations in the area above the level of 118.50.
USD JPY Forecast Forex Dollar Yen on January 20, 2017
In favor of the version of the growth is the breakdown of the trend line on the indicator of relative strength, indicating a breakdown on the chart a similar line. However, we should not exclude quotations correction attempt, within the framework of completion of the forex inverted head and shoulders pattern and the right shoulder is level again expect continuation of growth of quotations.
We continue to keep buying the pair and are ready to increase the volume of products with the development of growth. Important news from Japan is expected tomorrow, so the pair will continue to move in the technical analysis of USD/JPY.
USD JPY Forecast Forex Dollar Yen on January 20, 2017 suggests an attempt to continue the growth in cancers mining bullish wave pattern Wolfe to the potential fir rises above level 118.
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