Currency pair USD/JPY US Dollar to Japanese Yen closes the trading week near the level of 106.85. The pair continues to trade 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 level of 108.20, where we can expect a rebound attempt and continue the fall of the pair USD/JPY with the target near the level of 103.80. An additional signal in favor of the fall of the pair is the resistance level test.
Japanese Yen forecast USD/JPY on February 26 — March 2, 2018
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 110.20, which indicates 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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