Quotes Dollar Yen currency pair USD JPY continues to move in the mining bullish forex Wolfe wave model with the upside above 114.45 area. It also remains to date the inverted head and shoulders pattern, which indicates a potential growth area above 118.00.
USD JPY Forecast Japanese Yen on March 2, 2017
Cancellation option of continued growth of quotations of dollar yen pair will drop in and sample the local minimum area that indicates an continuation of the downward trend for the pair.
Expect faster growth of quotations of USD/JPY is a breakdown of the level of the neckline and the closing quotations of the pair above the 114.60 area, which points to the breakdown of the neckline forex reversal patterns.
Important news from Japan is not expected, so the pair will continue to move in the technical analysis of USD/JPY.
USD JPY Forecast Japanese Yen on March 2, 2017 suggests an attempt to continue growing in the area above the level of 118.00 in the framework of mining forex inverted head and shoulders pattern, the cancellation option will break-down area of a local minimum.
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