Currency pair USD/JPY US Dollar to Japanese Yen is trading at 107.24. 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 Cloud is expected to test near the 107.35 level, from which it is expected to attempt a rebound and continue the fall of the pair with a target near level 105.25. 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 22, 2018
Earlier, we received a weak signal for buy of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 106.60. 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 107.95, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of USD/JPY quotes falling with the breakdown of the support area and closing below the level of 105.95.
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