Quotations of the currency pair US Dollar to Japanese Yen USD/JPY went into the development of correction and at the moment there is still potential for falling to the area below the level of 108.30, where it is expected to complete the formation of the head and shoulders reversal pattern.
USD/JPY Forecast Japanese Yen on April 19, 2017
With the breakdown of the area of the Neck line, it is worth trying to buy a pair and expect the growth of quotations in the area above the level of 110.50. Canceling the variant of the formation of the reversal model by starting the breakdown of the local minimum area, in this case it is necessary to expect the continuation of the decline of quotations in the area below the level of 107.50. To expect the end of the decline is with the breakdown of the downward trend line on the indicator of relative strength.
Important news from Japan is not expected, so the pair will continue to move within the technical analysis of USD/JPY.
USD/JPY Forecast Japanese Yen on April 19, 2017 suggests an attempt to fall into the area below the level of 108.30, from which one should expect a rebound and an attempt to grow as part of the start of the development of the reversal model, cancel the breakdown of the local minimum area.
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