Japanese Yen forecast USD/JPY on January 29 — February 2, 2018


Currency pair USD/JPY US Dollar to Japanese Yen closes the trading week near the level of 108.60. The pair continues to trade 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 is near the level of 109.25, from which it is expected to attempt a rebound and continue the fall of the pair USD/JPY with the target near the level of 106.00.

Japanese Yen forecast USD/JPY on January 29 — February 2, 2018

Japanese Yen forecast USD/JPY on January 29 — February 2, 2018

An additional signal in favor of the fall of the pair is the test of the lower boundary of the descending channel. Earlier, a medium strength signal was received for the sell of the Dollar/Yen pair, by crossing the signal lines at 112.40.

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 ​​112.45, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling USD/JPY quotes is with the breakdown of the support level and the closing below the level of 107.00.


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