Quotations of the USD JPY continue to move within the framework of the Forex Triangle model. At the moment, the potential for breaking the upper boundary of the Triangle model remains, in this case Fiat is trying to continue the growth of quotations in the area above the level of 118.
USD/JPY Forecast Dollar Yen on March 8, 2017
We are trying to buy the pair of Yen Dollar from the support area. In the event of a breakdown in this area, you should expect a tight test at level 112.60, where you can again try to buy a pair within the beginning of the ascending Forex 5-0 model. To expect the acceleration of USD/JPY quotes growth is a breakdown of the 114.65 area.
Among the important news from Japan, which can influence the rate of the Japanese Yen, it is worth highlighting, the GDP volume change.
USD/JPY Forecast Dollar Yen on March 8, 2017 involves a rebound attempt from the support area, which indicates the breakdown of the upper boundary of the Forex Triangle model with the potential target of working above the area of 118.00.
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