Quotations of the pair USD/JPY US Dollar to Japanese Yen continue to test the resistance area near the level of 112. It is worth waiting for an attempt to fall into the area below the level of 110.20 as part of the formation of the inverted Forex Head and Shoulder model.
USD/JPY Forecast US Dollar to Japanese Yen on May 2, 2017
In favor of falling quotations of the pair Yen Dollar is the breakdown of the upward trend line on the indicator of relative strength. The cancellation of the USD/JPY reduction will be followed by a breakout of 112.70, indicating that the pair will continue to grow.
Among the important news from Japan that can influence the rate of the Japanese Yen, it is worth highlighting, Speech of the Head of the Bank of Japan with speech, Index of business activity in the services sector, Composite index PMI.
USD/JPY Forecast US Dollar to Japanese Yen on May 2, 2017 suggests an attempt of correction to the area below the level of 110.20 as part of the formation of the inverted Forex Head and Shoulders model, in favor of the decline is the breakdown of the trend line on the indicator of relative strength.
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