Currency pair US Dollar to Japanese Yen USD/JPY close the trading week by a decline near the area of 110.99. The pair continues to move within the framework of the formation of an reversal forex pattern «Head and Shoulders». It is worth waiting for the test of the test area 110.10 and the beginning of the growth of the pair.
USD/JPY forecast on May 29, 2017 — June 2, 2017
The first target of the growth of the US Dollar to Japanese Yen is the area at the level of 1114.50, the breakdown of which will indicate the continued growth in the forex model of the head and shoulders. The cancellation of the pair’s growth will be the fall and breakdown of the 108.00 area, which will indicate the continuation of the pair’s decline.
Important news from Japan, which may have an impact on the Japanese Yen against the US Dollar, is not expected, so the pair will continue to move in the technical analysis.
USD/JPY forecast on May 29, 2017 — June 2, 2017 suggests an attempt of the test of the area 110.10, from which one should expect a rebound and the pair’s growth as part of the development of the reversal forex pattern «Head and Shoulders» with the first target at the level of 114.50.
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