Currency pair USD/JPY US Dollar to Japanese Yen is trading at 105.87. 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 expected near the 106.95 level, from which it is expected to attempt a rebound and continue falling of the pair with the target near the level of 104.20. An additional signal in favor of the fall of the pair is the test of the upper boundary of the bearish channel.
Japanese Yen forecast USD/JPY on February 19, 2018
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 quotations above the area of 108.65, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotes with a breakdown of the channel’s lower boundary and closing below 105.15.
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