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USD/JPY prediction & technical analysis on October 16, 2017

USD/JPY prediction & technical analysis on October 16, 2017


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Quotes of the currency pair USD/JPY are trading within the limits of the decline. At this point, we should expect a breakdown at 112.00 level, and then continue falling into the area below the level of 110.70. Where can we expect a rebound from the lower border of the channel and an attempt to grow into the region above the level of 113.50.

USD/JPY prediction & technical analysis on October 16, 2017

In favor of the growth of the pair will perform a test of the support area on the indicator of relative strength index (RSI). The cancellation of the fall variant of the Dollar/Yen pair will result in a strong growth and breakdown at the level of 113.60, which will indicate the continued growth of the pair USD/JPY on Forex. Expect to accelerate the fall is with the breakdown of level 111.95.

USD/JPY prediction & technical analysis on October 16, 2017 suggests an attempt to break the 112.00 area and continue the decline with a target below the level of 110.70, where again we should expect the pair to continue to grow as part of the bullish model «5-0», the area of ​​support on the indicator of relative strength index (RSI).

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