Currency pair USD/JPY US Dollar to Japanese Yen is trading at 110.95. 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 level of 111.00, from which it is expected to attempt a rebound and continue the fall of the pair with the target near the level of 109.55. 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 January 24, 2018
Earlier, a strong signal was received for the sale of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 110.60. 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 the acceleration of USD/JPY quotes falling with the breakdown of the lower bound of the «Triangle» model and the closing below the level of 110.55.
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