Quotes of the currency pair US Dollar to Japanese Yen USD/JPY are traded within the bearish channel. At the moment, we should expect a test of the upper border of the channel near the area of 110.40 and continue the decline of the pair into the area below the level of 108.45.
USD/JPY forecast & technical analysis on September 1, 2017
In favor of the fall of the Dollar/Yen pair is the resistance line test on the relative strength indicator (RSI). The cancellation of the reduction option will be a strong growth and breakdown of the area of 110.70, indicating that the pair USD/JPY will continue to grow above the level of 111.50. To expect the acceleration of the fall is with the breakdown of the support level and the closing of quotations below the area of 109.50.
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 of USD/JPY.
USD/JPY forecast & technical analysis on September 1, 2017 suggests a rebound from the upper boundary of the bearish channel and the continuation of the pair’s decline to the level below the level of 108.45, an additional signal is the trend line test on the relative strength indicator (RSI).
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