Currency pair US Dollar to Japanese Yen USD/JPY close the trading week near the area of 111.50. The pair continues to trade within the framework of the forex Triangle model. It is worth waiting for a rebound attempt and the pair’s quotations start to rise above the level of 116.00.
USD/JPY weekly forecast on July 24 — 28, 2017
In favor of the rebound is the test of the support line on the indicator of relative strength index (RSI). Cancellation of the growth option will be a drop and a breakdown of the level of 110.50, indicating that the USD/JPY will continue to decline. With breakdown of the level of 114.50, it is expected to accelerate the growth of the Yen Dollar pair.
Among the important news from Japan on the next trading week, which can have an impact on the USD/JPY rate is:
July 28, 2017, the consumer price index.
USD/JPY weekly forecast on July 24 — 28, 2017 suggests an attempt to continue growth within the Triangle model, an additional signal is the test of the support line on the indicator of relative strength index (RSI).
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