Technical analysis of USD/JPY 11/14/2018
Quotes of USD/JPY currency pair continue to move within the ascending channel. At this point one should expect an attempt to test the support area near the level of 113.50. Then USD/JPY continues to grow to the area above the level of 114.50.
In favor of the growth of USD/JPY currency pair will be the test of the trend line on the RSI indicator, as well as a rebound from the lower boundary of the ascending channel. Cancellation of the pair growth will be the decline and the breakdown to the level of 113.00. It will indicate a breakdown of the support area and the continuation of the fall of the pair.
Among the important news from Japan, which may have an impact on the rate of USD/JPY, it is worth highlighting: The change in GDP. A strong decline is expected, which may put pressure on the Japanese yen rate on FOREX.
Created by Joshua Hayn