Quotations of the currency pair Dollar Yen USD JPY continued their decline and at the moment there is still potential for a tight test of the support area. In favor of continuing falling quotations of the pair is a rebound from the descending line of the trend on the indicator of relative strength.
USD/JPY Forecast Dollar Yen on March 24, 2017
However, in the event that the Yen Dollar pair exits beyond the upper boundary of the downward channel, there will be a potential for continuing growth into the upper boundary of the downward channel near the area of 112.70, in which case a downside Forex model will be formed 5-0 which will indicate continuation of the decline reduction below 111.00.
Important news from Japan is not expected, so the pair will continue to move within the technical analysis of USD/JPY.
USD/JPY Forecast Dollar Yen on March 24, 2017 suggests an attempt to continue the decline to the local minimum area, but in the event of a breakdown of the upper boundary of the descending channel, one should expect the growth to continue in the area above the level of 112.70.
