Quotations of the currency pair US Dollar to Japanese Yen USD/JPY continued to fall and are currently testing the support area near the level of 110.48. It is worth waiting for an attempt to break the neck line and continue falling quotations of the pair of Yen Dollar in the area below the level of 109.50. In favor of the fall is the breakdown of the upward trend line on the indicator of relative strength, which indicates the breakdown of the local minimum area by closing prices.
USD/JPY Forecast Japanese Yen on April 7, 2017
Canceling the fall of the pair on Forex will be a strong growth and breakdown of the region of 111.50, which will indicate the continued growth of the pair of Dollar Yen in the area above the level of 112.25.
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 7, 2017 suggests an attempt to continue the decline to the area below the level of 109.50 as part of the development of the head and shoulders reversal model, the breakdown of the region will be 111.50 which will indicate the end of the fall of the USD/JPY pair.
