Currency pair US Dollar to Japanese Yen USD/JPY continues to move within the bullish forex pattern «5-0». At the moment, quotes are repelled from the lower border of the channel, we should expect an attempt to continue growth in the area above the level of 114.50 as part of the model’s development.
Technicl analysis & USD/JPY forecast on June 2, 2017
In favor of the growth of the pair will breakdown the bearish trend line on the indicator of relative strength index (RSI). The cancellation of the growth option for the pair US Dollar to Japanese Yen USD/JPY on Forex will be the fall and breakdown of the area of 109.80, which will indicate the continuation of the pair’s 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 on June 2, 2017 suggests an attempt to grow the pair within the start of the bullish forex pattern «5-0» with the potential growth target above the level of 114.50, the breakdown of the region will be 109.80, in which case it is expected to continue the decline of the pair.
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