The currency pair US Dollar to Japanese Yen USD/JPY completed the trading week at the level of 111.50. It is worth waiting for an attempt to fall into the area below the level of 110.00 within a tight test of the downward trend line on the indicator of relative strength.
USD/JPY Forecast Dollar to Japanese Yen May 1 — 5, 2017
From level 110, we should expect a rebound and the beginning of the pair Yen Dollar pair growth, in favor of growth is also the formation of an inverted Forex Model Head of the shoulders. Expect to accelerate the growth of the pair is with the breakdown of the area of 111.80. The cancellation of the growth variant of the Japanese Yen pair will be the fall and breakdown of the local minimum area, which will indicate the continuation of the decline. With the breakdown of the upper boundary of the descending channel, one should expect the fall and the continued growth of the pair USD/JPY to be completed.
Among the important news from Japan in the next trading week, which may have an impact on the exchange rate of the dollar pair, the Yen Dollar is worth highlighting, the Index of business activity in the services sector, Composite Index PMI.
USD/JPY Forecast Dollar to Japanese Yen May 1 — 5, 2017 suggests an attempt of correction to the area below the level of 110.00 as part of the completion of the reversal of the forex model. The head and shoulders, where we can expect the pair to continue growing above the level 114, Region of local minimum.
