Currency pair USD/JPY US Dollar to Japanese Yen closes the trading week near the level of 106.29. The pair continues to trade 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 107.85 is expected, from which it is expected to attempt a rebound and continue the fall of the pair USD/JPY with the target near the level of 103.80.
Japanese Yen forecast USD/JPY on February 19 — 23, 2018
An additional signal in favor of the fall of the pair is the test of the upper boundary of the bearish channel. Earlier, a medium strength signal was received for the sell of the Dollar/Yen pair, by crossing the signal lines at 112.40. 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 110.50, indicating a change in the bearish trend in favor of the bullish trend. Expect the acceleration of USD/JPY quotations falling with the breakdown of the support level and the closing below the level of 105.30.
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