Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the framework of the formation of the «Triangle» reversal pattern. At this point, we should expect an attempt to test the resistance level near area 105.10 and continue falling of the pair in the area below the level of 103.90.
USD/JPY forecast & technical analysis March 27, 2018
In favor of the fall of the pair USD/JPY, the trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the Dollar/Yen decline option will result in a strong growth and breakdown at level 105.60, which will indicate the breakdown of the upper limit of the «Triangle» model and the continued growth of the Dollar/Yen pair. To expect confirmation of the fall of the pair is with the breakdown of the lower bound of the «Triangle» model and closing below 104.40.
USD/JPY forecast & technical analysis March 27, 2018 suggests an attempt to test the resistance level near the 105.10 area and the continuation of the fall of quotations in the area below the level of 103.90, in favor of the fall, the trendline test will be performed on the relative strength indicator index (RSI).