Quotations of the currency pair US Dollar to Japanese Yen USD/JPY completed the trading week at 112.66. The pair is testing the area of the upper border of the descending channel and at the moment it is expected to expect a rebound and fall of the pair’s quotations in the area below the level of 111.00.
USD/JPY Forecast Japanese Yen on May 8 — 12, 2017
Near this level, the values of the relative strength indicator test the broken trend line and again expect a rebound and the continued growth of the pair of Yen Dollar pairs to the level above the level of 115.50. The cancellation of the pair’s growth option can be a strong fall and breakdown of the lower border of the rising channel, which will indicate that the pair USD/JPY will continue to decline.
Important news from Japan in the next trading week is not expected, so the pair Yen Dollar will continue to move in the technical analysis of USD/JPY.
USD/JPY Forecast Japanese Yen on May 8 — 12, 2017 suggests an attempt of correction in the area below the level of 111.00, from which it is worth shouting a rebound and continued growth of USD/JPY with a potential growth target at 115.50, in favor of growth will perform a test of the support line On the indicator of relative strength.
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