Quotations of the currency pair USD JPY completed the trading week at 112.63. The pair went into the development of correction, but at the moment the quotation tightly tests the area of the lower border of the rising channel, which may indicate a potential rebound and continued growth of the pair in the area above the level of 118.50.
USD/JPY Forecast on March 20, 2017 — March 24, 2017
In favor of the option of continuing the development of the bullish trend for the pair is a tight test of the upward trend line on the indicator of relative strength. Canceling the option growth will fall and breakdown of the area of 111.20, which indicates the continuation of the fall in the area below the level of 106.80. Expect the acceleration of the pair’s growth. The Yen Dollar faces a breakdown of the area of 115.75, indicating that the pair will continue to grow.
Important news from Japan at the next trading week is not expected, so the pair will continue to move in the technical analysis of USD/JPY.
USD/JPY Forecast on March 20, 2017 — March 24, 2017 suggests a rebound attempt from the support area and the continued growth of the Yen Dollar pair in the region above the level of 118.50, the breakdown of the breakdown of the area is 111.20.
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