Currency pair USD/JPY US Dollar to Japanese Yen is trading at 109.11. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in the Dollar/Yen pair. Ichimoku Kinko Hyo Cloud is expected to test near the 109.45 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 2, 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 a 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 to accelerate the fall in USD/JPY quotes with a breakdown of the lower bound of the Triangle model and a close below the level of 108.25.
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