Quotes of the dollar yen currency pair USD JPY finished the trading week at 114.57. Currently quotes were able to show a rebound from the rising channel’s lower border, which implies an attempt to continue the growth of quotations in the area above the level of 118.
USD JPY Forecast on January 23, 2017 — January 27, 2017
In favor of a growth of quotations of dollar yen pair at the current trading week stands to rebound from the support line on the indicator of relative strength. Cancellation option will be a drop in the growth of quotations and sample 112.20 area that indicates the output quotes USD/JPY the rising channel’s lower border and the continued decline in the area below the level of 108 is expected to accelerate the growth of quotations is from the output of a pair of the descending channel.
Among the important news from Japan on the next trading week, which may have an impact on the Japanese yen stands out, the consumer price index January 27, 2017, expected to decline from the level of 0.5% to 0.2%, which could put pressure on the Japanese yen.
USD JPY Forecast on January 23, 2017 — January 27, 2017 suggests an attempt to continue the growth of pair in the area above the level of 118, the cancellation will be the breakdown of the area of support at 112.20, which will point to continued decline.
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