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 a test of the level of 109.60, from which we should expect a rebound and an increase in the pair’s quotes 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 18, 2017
An additional signal in favor of the growth of the Yen Dollar pair on Forex will be a test of the support line 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 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 18, 2017 involves an attempt to complete the formation of the upside-down «Head and Shoulders» model and the pair began to rise above the level of 112.50, the breakdown of the 108.30 zone will come.
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