Currency pair USD/JPY US Dollar to Japanese Yen is trading at 106.49. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen pair. The test area of Ichimoku Kinko Hyo signal lines near the level of 107.40 is expected, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 104.80.
Japanese Yen forecast USD/JPY on February 16, 2018
An additional signal in favor of the fall of the pair is the resistance level test. Earlier, a medium strength signal was received for the sale of the Dollar/Yen pair, by crossing the signal lines at 109.30. 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 quotes above the area of 108.85, indicating a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall of USD/JPY quotes is with the breakdown of the area 105.95.
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