Quotes Dollar Yen currency pair USD JPY continues to move in an uptrend. Currently the pair is testing the important support area and has the potential to continue to grow in the area above the level of 118.45. With the breakdown of the area is expected to accelerate the growth of quotations of dollar yen for the purpose of higher level 121.
USD/JPY Forecast Japanese yen in March 2017
In favor of a continuation of the growth is the test rising trendline on the Relative Strength indicator, which also indicates the presence of a strong support near current levels. Cancellation option of bullish trend for the pair USD/JPY in March 2017 will fall in the sample the lower boundary of the channel, that will indicate a potential drop below the 107.50 area.
Among the important news from Japan, which can affect the course of the currency pair USD/JPY, we should mention, the decision on the interest of the Bank of Japan interest rate March 16, 2017, it is expected that the rate will remain unchanged, as well as data on the annual growth of the monetary base, Commentary monetary policy, the Bank’s press-conference in Japan.
USD/JPY Forecast Japanese yen in March 2017 suggests an attempt to continue growth within the mining rising pattern of 1:1 with the first target near the region of 118.45, the breakdown of which points to continued growth in the region of a local maximum, the cancellation option will break-down of the rising channel’s lower border that points to fall to the level of 107.50.
