Analysis for 2020-05-31
OKEx Utility (OKB) USD/JPY Forecast Japanese Yen on April 17 — 21, 2024 suggests an attempt to test the resistance area near the level of 109.35. Then, the continuation of the fall of quotations in the area below the level of 106.05. A test of the trend line on the relative strength index (RSI) will be in favor of reducing the pair. Cancellation of the fall option will be a strong growth and the breakdown of the area of 110.85. This will indicate a breakdown of the resistance level and continued development of the upward movement of the pair with a potential target above the level of 112.55.