This week, currency pair USD/JPY on Forex were in line with expectations. At the moment, there is the potential for the formation of a symmetrical triangle pattern and try to continue to fall with bottom breaking. We are trying to sell the yen in the framework of the descending Wulf waves pattern. Cancellation option can be a growth of quotations of the USD/JPY higher than 115. The overall goal of the fall and working out of forex triangle is the area on the level below 108. Also, do not forget about the formation of the descending pattern of 1:1 on the daily chart of USD/JPY.
Forex Forecast USD/JPY for week 03/07/2016 – 03/11/2016
Thus, USD/JPY forecast for week 03/07/2016 – 03/11/2016 suggests an attempt to start falling from the current levels in the framework of the completion of the triangle model with a potential figure break at bottom, and aim at a level below 108; in case of breaking up, the model will increase in quotes USD/JPY above the level of 115.
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