Quotes of the dollar yen currency pair USD JPY continues to move in the formation of bullish forex Wolfe wave model. At the moment, there is the potential to continue fall and dense dough bottom border model, where we can expect a rebound and the beginning of growth in the area above the level of 113.50.
USD JPY FOREX Forecast Dollar Yen on February 3, 2017
In favor of a growth of quotations of dollar yen pair testing the rising trend line on the indicator of relative strength. Cancellation option will drop and closing quotes below 111.00 that will point to a continuation of the downward trend for the pair.
Among the important news from Japan, which can affect the course of the pair USD/JPY, we should mention, the business activity index in the service sector PMI Composite index.
USD JPY FOREX Forecast Dollar Yen on February 3, 2017 assumes the completion of the formation of bullish forex wave pattern Wolfe and early growth of quotations within the mining model with a potential target of growth above the level of 113.50.
