Quotations of the currency pair US Dollar to Japanese Yen USD/JPY completed the trading week at 108.61. The pair continues to trade in a downward correction, but at the moment there is a potential for a rebound of quotations to the area above the level of 112.00 as part of the start-up of the bull model of the Wolf wave.
USD/JPY Forecast Japanese Yen on April 17 — 21, 2017
Expect the completion of the downward correction of the pair US Dollar to Japanese Yen stands with the breakdown of the downward trend line on the relative strength indicator. The cancellation of the variant of USD/JPY pair growth will be the fall and breakdown of the area 106, which will indicate the quotes outflow from the channel and the breakdown of an important level of support.
Among the important news from Japan in the next trading week that can influence the currency exchange rate of the Dollar Yen is worth highlighting, Speech by the head of the Bank of Japan with a speech on April 17, 2017.
USD/JPY Forecast Japanese Yen on April 17 — 21, 2017 suggests a rebound attempt to the area above the level of 112.00 as part of the start of the development of the bull model of the Wolf wave, the breakdown of the region 106 will be a cancellation and the continuation of the decline of the Yen Dollar pair.
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