Quotes of the currency pair US Dollar to Japanese Yen USD/JPY are traded within the limits of expectations. At this point, we should expect a test level of 108.70, from which we should expect a rebound and the beginning of the pair’s growth in the area above the level of 113.00.
USD/JPY forecast & technical analysis on September 7, 2017
In favor of the growth of the Dollar/Yen pair is the formation of an inverted «Head and Shoulders» model, as well as a support area test on the relative strength indicator (RSI). Cancellation of the variant of growth will be the fall and breakdown of the area 108.00, which will indicate the continuation of the fall of the pair USD/JPY at Forex below the level of 106.50. Expect to accelerate growth is with the breakdown of the level of the neckline of the reversal pattern and the closing of quotations above the area of 110.60.
Important news from Japan, which may 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 September 7, 2017 suggests an attempt to grow the pair above the level of 111.50 as part of the beginning of the development of the head and shoulders reversal model, an additional signal is the test of the support area on the indicator of relative strength index (RSI), the breakdown will be a breakdown at 108.00 level.
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