Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move in the fall. At the moment, we should expect the test of the support area test near the level of 105.20 and the continuation of the pair’s growth in the area above the level of 108.40, within the framework of the formation of the «Head and Shoulders» reversal model.
USD/JPY forecast & technical analysis April 4, 2018
In favor of the growth of the pair USD/JPY, a trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the growth variant of the Dollar/Yen pair will result in a drop and breakdown of the level of 104.50, which will indicate a breakdown of the local minimum and the continuation of the fall of the Dollar/Yen pair. To expect confirmation of the growth of the pair is with the breakdown of the «Neckline» of the reversal pattern and closing above 106.95.
USD/JPY forecast & technical analysis April 4, 2018 involves trying to test the support level near the 105.40 area and continuing the growth of quotations to an area above the level of 108.40, in favor of growth, the trend line test will perform on the relative strength index (RSI), the cancellation of the growth scenario will be the breakdown of the area 104.50.