Quotations of the currency pair USD/JPY continues to move in line with the growth and our forecast of the Dollar/Yen. At the moment, quotes are testing the area of the upper boundary of the Triangle model. It is worth waiting for an attempt to fall to the area of 111.70, where again there will be a potential for growth of the pair USD/JPY.
USD JPY prediction & analysis on July 5, 2017
In favor of growth, a test of the support line on the indicator of relative strength will perform. The cancellation of the variant of growth will be the breakdown of the area of 111.40, indicating that the pair will continue to decline. With the breakdown of the upper limit of the Triangle model, one should expect the growth of the Yen Dollar to accelerate.
Among the important news from Japan, which can have a strong impact on the Japanese yen against the US dollar, it is worth highlighting: the index of business activity in the services sector, Composite Index PMI.
USD JPY prediction & analysis on July 5, 2017 suggests a rebound attempt to the area below the level of 111.70, where again we should expect the pair to continue growing above the level of 115.30.
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