Quotations of the currency pair USD JPY completed the trading week at 114.71. The pair continues to move within the ascending channel. The pair left the Triangle and the potential for continuing the growth of quotations in the area above the level of 118.50 remains. It is worth expecting a tight test of the broken model boundary and the continued growth.
USD/JPY Forecast on March 13, 2017 — March 17, 2017
In favor of the option of continuing the development of the bullish trend is a rebound from the trend line on the indicator of relative strength. The cancellation of the growth option will be the fall and breakdown of the region of the lower border of the ascending channel with the closure below the level of 111.20, which will indicate the continuation of the decline.
Among the important news from Japan in the next trading week that can influence the currency rate of the Dollar Yen is worth highlighting, the decision on the interest rate of the Bank of Japan, the annual gain of the monetary base, the Commentary on Monetary Policy, the Bank of Japan Press Conference on March 16, 2017 of the year.
USD/JPY Forecast on March 13, 2017 — March 17, 2017 suggests an attempt to continue growth in the framework of working out a broken triangle model with a potential growth target above the level of 118.50.
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