Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continues to move within the framework of the Forex Triangle model. At this point, there is potential for forming an inverted «Head and Shoulders» model with a test of the area of 109.70, from which we should expect a rebound and an increase in the pair’s quotations to an area above the level of 112.50.
USD/JPY forecast & technical analysis on August 16, 2017
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.
Important news from Japan is not expected, so the pair will continue to move within the technical analysis USD/JPY.
USD/JPY forecast & technical analysis on August 16, 2017 involves an attempt to form an inverted model of the «Head and Shoulders» and continue the growth of the pair above the level of 112.50, the cancellation will break through the level of 108.30.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
