Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move in the bearish channel. There is a potential for this to form an inverted model of the «Head and Shoulders». It is worth waiting for the test level 109.20 and the beginning of the growth of the pair in the area above the level of 111.60.
USD/JPY forecast & technical analysis on August 15, 2017
In favor of reducing the pair of Yen Dollar is the resistance line test on the indicator of relative strength index (RSI). The cancellation of the variant of growth will be the fall and breakdown of the area 108.30, which will indicate the acceleration of the pair USD/JPY decline on Forex. An additional signal in favor of the growth of the pair is the formation of a bullish Wolfe wave.
Important news from Japan is not expected, so the pair will continue to move within the technical analysis of USD/JPY.
USD/JPY forecast & technical analysis on August 15, 2017 involves an attempt to form an inverted model of the «Head and Shoulders» and begin to rise above the level of 111.60, the cancellation will break through the level of 108.30.
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