Quotes of the dollar yen currency pair USD JPY continues to move in the Forex Wolfe Wave pattern with a potential target of growth and refinement at the level above 118.50. In favor of the growth option in favor formation of forex inverted head and shoulders pattern on the indicator of relative strength.
USD JPY Forex Dollar exchange rate on January 17, 2017
Expect faster growth of quotations of dollar yen pair is a breakdown of the descending resistance line on the indicator of relative strength. We try to buy the pair with the tight stop. Cancellation option will drop in prices of the currency pair USD/JPY below 113.50, it will point to continued decline in the area below the level of 112.50.
Important news from Japan is expected tomorrow, so the pair will continue to move in the technical analysis of USD/JPY.
USD JPY Forex Dollar exchange rate on January 17, 2017 suggests an attempt to increase within the mining start rising forex Wolfe wave model with a potential upside target above the level of 118.50.
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