Currency pair USD/JPY US Dollar to Japanese Yen is trading at 112.48. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen pair. Ichimoku Kinko Hyo signal line area test is near the 112.65 level, from which it is expected to attempt a rebound and continue falling of the pair with the target near the level of 111.50.
Japanese Yen forecast USD/JPY on January 5, 2018
Earlier, a weak strength signal was obtained for the sell of the Dollar/Yen pair, due to crossing of the signal lines at the level of 113.25. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 112.90, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the fall in USD/JPY quotes with the breakdown of the lower bound of the Triangle model and the closing below the level of 111.90.