Currency pair USD/JPY US Dollar to Japanese Yen is trading at 107.39. The pair is traded within the Ichimoku Kinko Hyo Cloud, indicating a sideways trend for the Dollar/Yen pair. Ichimoku Kinko Hyo Cloud is expected to test near the 107.45 level, from which it is expected to attempt a rebound and continue falling of the pair with a target near the 105.55 level. 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 23, 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, indicating a change in the flat trend in favor of the bearish trend. Expect the acceleration of USD/JPY quotes falling with the breakdown of the Cloud’s lower boundary and the closing below the level of 106.05.
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