Quotes of the pair USD/JPY US Dollar to Japanese Yen close the trading week near the area of 110.99. At this point, we should expect an attempt to test the support level near the area of 108.50 and continue the growth of the pair to an area above the level of 115.50.
USD/JPY weekly forecast May 21 — 25, 2018
In favor of the pair’s growth, the Dollar/Yen will test the support line on the relative strength index (RSI). The cancellation of the growth of the pair USD/JPY on the current trading week will be the fall and breakdown of the 107.00 area, which will indicate the breakdown of the support level and the continued growth of the pair on Forex to the lower boundary of the bearish channel. Confirmation of the growth of the pair will be the breakdown of the upper boundary of the channel and the closing above the level of 111.90.
USD/JPY weekly forecast May 21 — 25, 2018 suggests a test of the support level near the 108.50 area, from where it is expected to continue the pair’s growth to the level above the level of 115.50, an additional signal in favor of growth will be a trend line test on the relative strength index (RSI), the cancellation of the pair’s growth option will be a breakdown of the level of 107.00, which will indicate the continuation of the fall of the pair.