Quotations of the currency pair USD JPY continued to fall and have now approached the key support level near the area of 111.75. The pair continues to test the area of the lower border of the rising channel and there is a potential for rebound and continuing growth with the first target near the level 115.50.
USD/JPY Forecast Japanese Yen on March 21, 2017
In favor of growth, perform a tight test of the support area on the indicator of relative strength. The cancellation of the growth variant of the Yen Dollar pair will be the fall and breakdown of the 111.50 area, which will indicate the continued decline of the pair.
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 21, 2017 suggests a rebound attempt and the beginning of growth within the test of the lower border of the rising channel, the target of growth is the area above the level of 115.50, the breakdown will be a breakdown of the lower boundary of the channel.
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