Currency pair USD/JPY US Dollar to Japanese Yen is trading at 111.21. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen pair. The Ichimoku Kinko Hyo Cloud Upgrade Test is expected near the level of 111.50, from which it is expected to attempt a rebound and continue falling of the pair with the target near the level of 109.95.
Japanese Yen forecast USD/JPY on January 19, 2018
An additional signal in favor of the fall of the Yen Dollar pair will be the test of the upper boundary of the bearish channel. 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 of USD/JPY quotations is with the breakdown of the level of 110.60.
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