Currency pair US Dollar to Japanese Yen USD/JPY close the trading week near the area of 111.30. The pair continues to trade within the bullish channel, and the reversal pattern «Head and Shoulders» is also completing. It is worth expecting an attempt to continue the growth of quotes of the Dollar Yen pair with the first growth target near the level of 114.50.
USD/JPY weekly forecast June 19 — 23, 2017
Expect to accelerate the growth of quotations USD/JPY is with the breakdown of the level of 115.00. Cancellation of the variant of growth of quotations of the pair will be a drop and a breakdown of the area of 108.50, which will indicate the breakdown of the lower boundary of the channel and the continuation of the decline of the pair into the area below level 105.
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 of USD/JPY.
USD/JPY weekly forecast June 19 — 23, 2017 suggests an attempt to continue growth as part of the start of the development of the reversal model «Head and Shoulders» with the potential goal of growth of all levels of 120, with the breakdown of the region 108.50 being a cancellation.
