Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continues to move in the fall. At this point, we should expect the breakdown of the support area and the reduction of the pair with a target below 107.20.
USD/JPY forecast & technical analysis on August 24, 2017
In favor of the fall of the pair is the formation of a reversal model of the «Head and Shoulders» on the indicator of relative strength index (RSI). The cancellation of the fall option will be a strong growth and breakdown of the area of 110.50, indicating that the pair USD/JPY will continue to grow above the level of 111.50.
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 24, 2017 suggests an attempt to break through the support area with a potential drop target at 107.20, an additional signal is the formation of a reversal model on the relative strength indicator (RSI).
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