Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the correction. At the moment, we should expect an attempt to test the resistance area near the level of 107.10 and continue falling of the pair in the area below the level of 105.60, as part of the development of the bearish model «Wolfe Wave».
USD/JPY forecast & technical analysis April 12, 2018
In favor of the fall of the pair USD/JPY will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and breakdown at the level of 108.10, which will indicate the breakdown of the upper boundary of the model and the continued growth of the Dollar/Yen pair. To expect confirmation of the fall of the pair is with the breakdown of the support line and closing below the level of 106.45.
USD/JPY forecast & technical analysis April 12, 2018 suggests an attempt to test the resistance level near the 107.10 area and the continuation of the fall of quotations in the area below the level of 106.00, in favor of the drop will perform a resistance line test on the indicator of relative strength index (RSI).