Quotes of the currency pair US Dollar to Japanese Yen USD/JPY are traded within the framework of the bullish model «5-0». At the moment, the pair is testing the resistance area. One should expect an attempt to rebound and fall into the region of the lower boundary of the channel near the area of 111.75.
USD/JPY prediction & technical analysis on October 20, 2017
In favor of the fall of the pair is a test of the resistance level on the indicator of relative strength index (RSI). With the breakdown of area 111.05, we should expect the continuation of the development of a bearish trend in the pair. The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and breakdown at the level of 113.70, which will indicate the continued growth of the pair USD/JPY on Forex.
USD/JPY prediction & technical analysis on October 20, 2017 suggests a test of the resistance level near the area of 113.45, where it is expected to decline quotations in the area below the level of 111.05, the abolition of the fall option will be the breakdown of the area of 113.70.
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