Currency pair USD/JPY US Dollar to Japanese Yen is trading at 109.34. 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 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 107.50. 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 5, 2018
Earlier, a weak signal was received for the buy of the Dollar/Yen pair, due to the crossing of the signal lines at 109.30. 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. Expect the acceleration of USD/JPY quotes falling with the breakdown of the support level and the closing below the area of 108.25.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
