Currency pair USD/JPY US Dollar to Japanese Yen is trading at 106.52. 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 near the 106.85 level, from which it is expected to attempt a rebound and continue falling of the pair with the target near the level of 104.65. 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 21, 2018
Earlier, a medium strength signal was received for the sell of the Dollar/Yen pair, due to the crossing of the signal lines at 109.30. The cancellation of the fall of the pair quotes will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 107.65, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling USD/JPY quotes is with the breakdown of the support area and the closing below the level of 105.35.
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