Quotations of the currency pair USD JPY continue to move within the framework of the Forex Triangle model and at the moment there is still potential for breakdown of the upper limit and continuation of the upward trend development along with a potential growth target above the 118.00 area.
USD/JPY Forecast Japanese Yen on March 9, 2017
In favor of the rebound from current levels is the support area test, which indicates a probable growth already from the current levels. We try to keep buying a pair with a close stop-loss. The cancellation of the variant of growth may be the fall and the breakdown of the region of 113.80, which will indicate the continuation of the decline in the area of 112.60, where again one can consider buying a pair with a close stop-loss.
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 9, 2017 suggests an attempt to break the upper bound of the Triangle model and the resumption of an uptrend along a pair with a potential growth target above the 118.00 area.
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