The currency pair US Dollar to Japanese Yen USD/JPY closed the current trading month at 111.39. The pair was able to penetrate the lower border of the rising channel, which indicates a potential continuation of the decline in the area below the level of 107.
USD/JPY Forecast Japanese Yen on April 2017
In favor of falling quotes of the Dollar Yen pair in April 2017, breakdown of the upward trend line on the relative strength indicator, indicating a breakdown of a similar line in the price chart. The cancellation of the USD/JPY decline will be strong growth above the level of 114.50, which will indicate a return to the ascending channel and the continued growth of the pair.
Among the important news that may have an impact on the Japanese yen rate in April 2017, it is worth highlighting, the decision on the interest rate of the Bank of Japan on April 27, 2017, as well as comments on monetary policy, the annual growth of the monetary base and the press conference of the Bank of Japan.
USD/JPY Forecast Japanese Yen on April 2017 implies an attempt to continue the decline to below the level of 107 within the rebound from the breached border of the rising channel, the cancellation will be a strong increase above the level of 114.50.
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