Currency pair USD/JPY US Dollar to Japanese Yen is trading at 110.31. 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 110.50, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 109.25.
Japanese Yen forecast USD/JPY on January 25, 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 strong signal was received for the sell 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 the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 111.60, which will indicate a change in the bearish trend in favor of the bullish. Expect to accelerate the fall in USD/JPY quotations with a breakdown of the level of 110.15.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
