Quotations of the currency pair US Dollar to Japanese Yen USD/JPY are traded at 110.850. At the moment, the quotes of the pair are moving near the resistance level. It is expected to test the bottom line of the uplink at 110,200 and the growth of quotations of the US Dollar to Japanese Yen in the resistance area at level 112.500. In case of breakdown of the resistance level, we should expect the continuation of the growth of USD/JPY with a target above 114.800.
USD/JPY forecast & technical analysis on May 19, 2017
In favor of growth is the test of the trend support line on the MACD indicator, as well as the test of the lower boundary of the rising channel. The cancellation of the growth of the quotes of the currency pair US Dollar to Japanese Yen will be a breakdown of the level of the lower border of the upward channel and the consolidation of quotations below the level of 109.400. However, as the main option is to expect the growth of quotations USD/JPY in the area above the level of 112.500.
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