Currency pair USD/JPY US Dollar to Japanese Yen is trading at 111.33. 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 level of 111.80, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 110.25.
Japanese Yen forecast USD/JPY on January 12, 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 112.70. 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 quotations above the area of 112.70, indicating a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotations with a breakdown of level 111.10.