Currency pair USD/JPY US Dollar to Japanese Yen is trading at 110.77. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen pair. The test area of Ichimoku Kinko Hyo signal lines near level 111.10 is expected, from which it is expected to attempt a rebound and continue falling of the pair with the target near the level of 109.35. An additional signal in favor of the fall of the pair of the Dollar/Yen is the resistance level test.
Japanese Yen forecast USD/JPY on January 18, 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 quotes above the area of 111.90, which indicates 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 the level of 110.10.
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