Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 110.70. The pair continues to move within the framework of a bearish correction. At this point, we should expect an attempt to test the support level near the area of 109.90 and continue the growth of the pair to an area above the level of 115.50.
USD/JPY weekly forecast & analysis August 20 — 24, 2018
In favor of the pair’s growth, the Dollar/Yen will test the uptrend line on the relative strength index (RSI). The cancellation of the growth of the pair USD/JPY on the current trading week August 20 — 24, 2018 will be the fall and breakdown of the area of 109.20, which will indicate the breakdown of the support area and the continuation of the fall of the pair on Forex in the area below the level of 106.55. Confirmation of growth on the pair will be a breakdown of the upper boundary of the descending channel and the closing above the level of 112.50.
USD/JPY weekly forecast & analysis August 20 — 24, 2018 suggests a test of the support level near the area of 109.90, from where it is expected to continue the decline of the pair in the area below the level of 115.50, an additional signal in favor of growth will perform a test of the support line on the indicator of relative strength index (RSI), canceling the growth of the pair will be a drop and a breakdown at 109.20, indicating that the pair will continue to decline.
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