Quotes of the pair USD/JPY close the trading week near the area of 112.71. The pair continued to move within the bearish channel. It is expected to rebound from the upper boundary of the channel and continue falling into the area below the level of 108.00.
USD/JPY weekly forecast on October 9 — 13, 2017
In favor of reducing the pair is the resistance line test on the relative strength indicator (RSI). The cancellation of the fall of the pair USD/JPY in the current trading week will be strong growth and breakdown of the 114.00 area, which will indicate the continued growth of the pair on Forex. Expect to accelerate the fall is with the breakdown of the level of 111.50.
Important news from Japan, which may have an impact on the rate of the Japanese Yen, is not expected, so the pair will continue to move in the technical analysis.
USD/JPY weekly forecast on October 9 — 13, 2017 suggests a test of the upper border of the channel, from which it is expected to continue the decline of the Japanese Yen to below the level of 108.00, the cancellation of the fall may be the breakdown of the 114.00 area, which will indicate the continued growth of the Dollar/Yen pair.
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