Technical Analysis USD/JPY 04/27/2018
Quotes of the USD / JPY currency pair continue to move within the rising channel on the 1H timeframe. At the moment, we should expect an attempt to test the support area near the level of 108.50 and continue the growth of the pair in the area above the level of 109.50.
In favor of the growth of the pair USD/JPY will break the trend line on the indicator RSI. The cancellation of the growth variant of the Yen Dollar pair will result in a drop and breakdown of the level of 107.80, which will indicate the breakdown of the lower border of the channel.
Among the important news from Japan, which may affect the rate of the pair USD/JPY, it is worth highlighting: The decision on the interest rate of the Bank of Japan, Press Conference of the Bank of Japan.
Created by Joshua Hayn