Currency pair USD/JPY on the FOREX completed the trading week at level of 113.92.
We expect the completing of formation of the downward pattern 1:1 near the level of 116.10. But we don’t rule out an attempt to continue the growth of quotations of USD/JPY in the case of a penetration of level of 115 on up to a much higher level of 116, as part of efforts to work out a double bottom pattern. However, the main course of events in the near future for the dollar yen pair is an attempt to test the upper boundary of the downward channel and continuing the falling to below the level of 108.
Thus, the FOREX forecast USD/JPY on March 1, 2016 assumes the growth of quotations of USD/JPY to a level of 116.10, where you can try to sell the pair with the near stop.
