Quotations of the Dollar Yen USD JPY continue to move outside the Triangle model, which indicates a potential continuation of the pair’s price growth in the area above the level of 118.00. In favor of the variant, the continuation of growth is the test of the ascending trend line on the indicator of relative strength.
USD/JPY Forecast Forex on March 16, 2017
The cancellation of the option continued the growth of quotations of the pair The Yen Dollar will break through the area of 114.00, which will indicate the continuation of the decline in the area below 112.60.
Among the important news from Japan, which can influence the rate of the Japanese Yen, it is worth highlighting, the decision on the interest rate of the Bank of Japan, it is expected that the rate will remain at -0.10%, the annual growth of the monetary base, the Commentary on monetary policy, Conference of the Bank of Japan.
USD/JPY Forecast Forex on March 16, 2017 suggests a tight test of the broken Triangle model boundary and the continued growth of the pair in the area above the level of 118.00 as part of the model’s development.
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