Currency pair USD JPY this week showed qualitative upward movement. At the moment, there is the potential for the development of a pair of quotes fall in the rebound from the resistance line on the indicator of relative strength.
USD JPY forecast next week 23 — 27 May 2016
An additional signal in favor of falling of pair USD JPY on the current trading week 05/23/2016 — 05/27/2016 testing the upper limit of the downward channel. We continue to keep selling the pair with the tight stop. Cancellation option will be the fall of the strong growth of quotations of the dollar yen pair above the level of 111, which will lead to the cancellation of the descending pattern is 1:1.
USD JPY forecast next week 23 — 27 May 2016 suggests an attempt to fall within the beginning of the descending pattern of 1:1 in order to lower the level of 104.