Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within expectations and could break through the support area. At this point, we should expect a test of the level of 10.50 and continue the decline of the pair in the area below the level of 107.50.
USD/JPY forecast & technical analysis on August 30, 2017
In favor of the fall of the pair, the Dollar/Yen will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the fall option will be a strong growth and breakdown of the 109.10 area, which will indicate the continued growth of the pair USD/JPY at Forex above 110.00. To expect the acceleration of the fall is with the breakdown of the support level and the closing of quotations below the area of 108.35.
Important news from Japan, which could have an impact on the rate of the Dollar/Yen pair, is not expected therefore the pair will continue to move within the technical analysis USD/JPY.
USD/JPY forecast & technical analysis on August 30, 2017 suggests a test of the pierced resistance level near the area of 108.50, from where it is expected to continue reducing the pair to below the level of 107.50, an additional signal will test the trend line on the indicator of relative strength index (RSI).
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