Quotes of the currency pair USD/JPY close the trading week near the area of 110.80. The pair continues to test the lower boundary of the rising channel. It is expected to rebound and the pair’s growth of the Dollar/Yen is above the level of 116.50.
USD/JPY weekly forecast on August 7 — 11, 2017
In favor of the growth of the pair is the test of the support line on the indicator of relative strength index (RSI). The cancellation of the growth variant of the pair USD/JPY will be the fall and the breakdown of the area of 108.50, which will indicate the continuation of the pair’s decline. Expect to accelerate the growth of the pair is with the breakdown of the region 114.50.
Important news from Japan, which may have an impact on the Japanese Yen against the US Dollar, is not expected, so the pair will continue to move in the technical analysis USD/JPY.
USD/JPY weekly forecast on August 7 — 11, 2017 suggests an attempt to rebound from the lower border of the channel and continue growing with the target near the area of 116.50, the cancellation of the pair’s growth option will result in a fall and breakout of the area of 108.50.
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