Quotations of the currency pair USD JPY continue to test the area of the bottom border of the ascending Forex model 5-0, we should expect an attempt to rebound from this area and start growth with the target near the level of 114.70.
USD/JPY Forecast Japanese Yen on March 20, 2017
In favor of the growth option, a breakdown of the downward trend line will appear on the relative strength indicator, which will indicate a breakdown of a similar trend line in the price chart. The cancellation of the option may be the fall and breakdown of the lower boundary of the Triangle model, which indicates that the pair of Yen Dollar pair continues to decline.
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 March 20, 2017 suggests an attempt to break the upper boundary of the Triangle model and continue growth to an area above the level of 114.50 and the potential goal of upgrading the 1:1 upward pattern at 115.50.
