Currency pair USD/JPY US Dollar to Japanese Yen is trading at 108.81. 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 Cloud is expected to test near the 109.55 level, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 107.20. An additional signal in favor of the fall of the Dollar/Yen pair will be the test of the upper boundary of the bearish channel.
Japanese Yen forecast USD/JPY on February 1, 2018
Earlier, a strong signal was received for the sell of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 110.60.
The cancellation of the fall of the pair’s quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 110.25, indicating a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the USD/JPY quotes falling with the breakdown of the level of 108.35.
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