Currency pair US Dollar to Japanese Yen USD/JPY close the trading week near the area of 111.25. It is worth expecting an attempt to slightly drop the quotations in the area below the level of 110.80, where we can expect a rebound and the pair USD/JPY growth to the area above the level of 114.50.
USD/JPY weekly forecast on June 26 — 30, 2017
In favor of the growth of quotations of the pair Dollar/Yen, there is a rebound from the support line on the indicator of relative strength index (RSI). Expect to accelerate growth is with the breakdown of the level of 115.00, which indicates the breakdown of Neck line reversal model of the «Head and Shoulders». The abolition of the growth option will be the fall and breakdown of the local minimum area with the closing of quotations below the level of 107.00, which will indicate the continuation of the decline.
Among the important news from Japan in the next trading week, which can have an impact on the USD/JPY rate is:
June 30, 2017, the consumer price index.
USD/JPY weekly forecast on June 26 — 30, 2017 assumes an attempt to increase to the area above the level of 114.50 within the framework of the beginning of the development of the reversal model «Head and Shoulders», the breakdown of the local minimum area will be a test that will indicate the continued decline of the pair.
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