Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move within the framework of the bullish correction. At this point, we should expect an attempt to test the resistance area near the area of 106.80 and continue falling of the pair into the area below the level of 104.30.
USD/JPY forecast & technical analysis March 30, 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 a breakdown of the level of 107.40, which will indicate the breakdown of the upper limit of the descending channel and the continued growth of the Dollar/Yen pair. To expect confirmation of the fall of the pair is with the breakdown of the support area and closing below 105.20.
USD/JPY forecast & technical analysis March 30, 2018 suggests an attempt to test the upper boundary of the bearish channel near the 106.80 area and the continuation of the fall of quotations to the area below the level of 104.40, in favor of the fall, the trendline test will be performed on the relative strength index (RSI).