Currency pair USD/JPY US Dollar to Japanese Yen is trading at 113.20. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the Dollar/Yen pair. Ichimoku Kinko Hyo Cloud is expected to be tested near the 112.95 level, from which it is expected to attempt a rebound and continue the growth of the pair with the target near level 114.15.
Japanese Yen forecast USD/JPY on January 8, 2018
Earlier, we received a weak signal for buy of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 112.50. The cancellation of the growth of the quotations of the pair will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 112.35, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations USD/JPY stands with the breakdown of the upper limit of the model «Triangle» and the closing above the level of 113.55.