Currency pair USD/JPY US Dollar to Japanese Yen is trading at 107.38. The pair is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend for the Dollar/Yen pair. Ichimoku Kinko Hyo Cloud is expected to test near the 107.00 level, from which it is expected to attempt a rebound and continue the growth of the pair with a target near the level of 108.95. An additional signal in favor of the growth of the pair will be the test of the upper boundary of the bearish channel.
Japanese Yen forecast USD/JPY on March 1, 2018
Earlier, a medium strength signal was received for the sell of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 107.05. The cancellation of the growth of the quotations of the pair will be the breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 106.25, indicating a change in the flat trend in favor of a bearish trend. Expect the acceleration of USD/JPY quotes growth with the breakdown of the resistance area and the closing above the level of 108.45.
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