Quotes of the currency pair US Dollar to Japanese Yen USD/JPY are traded within the framework of the bullish model «5-0». At this point, we should expect an attempt to rebound and fall into the region of the lower boundary of the channel near the area of 111.15.
USD/JPY prediction & technical analysis on October 19, 2017
In favor of the fall of the pair is a test of the resistance level on the indicator of relative strength index (RSI). Whence again it is necessary to expect the continuation of growth in the region above 114.00. The cancellation of the growth variant of the Dollar/Yen pair will result in a drop and a breakdown at 110.30, which will indicate that the USD/JPY pair continues to fall on Forex. To expect the acceleration of growth is with the breakdown of the level of 112.85.
USD/JPY prediction & technical analysis on October 19, 2017 suggests an attempt to test the level of the lower border of the channel and continue growth with the target above 114.00 level, as part of the start-up of the bullish model «5-0», the breakdown will be a breakdown at 110.30 level.