Quotations of the currency pair US Dollar to Yen USD JPY completed the trading week at the level of 111.25. The pair has left the limits of the rising channel and at the moment there is a potential for continuing the decline of quotations in the area of 107.50. In favor of the likely fall of the pair, the Yen Dollar is the breakdown of the long-term trend line on the indicator of relative strength, which also indicates the completion of growth in a pair.
USD/JPY Forecast on March 27, 2017 — March 31, 2017
However, we should not exclude the attempt of the test of the broken border of the rising channel and after this continuation of the USD/JPY quotations decrease to the area below 107.50. The cancellation of the variant of falling quotations in the next trading week will be a strong growth of the pair above the level of 116.00, which will indicate the breakdown of an important area of resistance and the return of quotes to the inside of the ascending channel. In this case, the target of growth may be the area above the level of 119.
Among the important news from Japan in the next trading week that may have an impact on the currency rate of the Dollar Yen is worth highlighting, the Consumer Price Index on March 31, 2017, is expected to decline from 0.4% Level of 0.3% in annual terms.
USD/JPY Forecast on March 27, 2017 — March 31, 2017 suggests an attempt to continue the decline of the pair after a minor correction to the area of the broken channel border with a view to falling at the level of 107.50.
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