Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the formation of an inverted «Head and Shoulders» model. At the moment, we should expect the pair to fall below 110.00, from which we should expect a rebound and an increase in the pair’s quotations to the area above the level of 112.50, as part of the development of the «Head and Shoulders» reversal model.
USD/JPY forecast & technical analysis on August 17, 2017
The cancellation of the variant of growth will be the fall and breakdown of the area 108.30, which will indicate the continued decline in the pair USD/JPY 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 17, 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 withdrawal will break through the level of 108.30.
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