Currency pair USD/JPY US Dollar to Japanese Yen is trading at 111.02. 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 Upper Test is expected near the level of 111.30, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 109.55.
Japanese Yen forecast USD/JPY on January 22, 2018
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. Earlier, a weak signal was received for the sell of the Dollar/Yen pair, due to the crossing of the signal lines at 111.00. 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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