Currency pair USD/JPY US Dollar to Japanese Yen is trading at 106.67. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the Dollar/Yen pair. The Ichimoku Kinko Hyo Cloud upper limit test is expected near level 106.20, from which it is expected to attempt a rebound and continue the growth of the pair with the target near the level of 108.05.
Japanese Yen forecast USD/JPY on March 12, 2018
An additional signal in favor of the growth of the pair will test the level of support. Earlier, a weak signal was received for buy of the Dollar/Yen pair, due to crossing of the signal lines at the level of 105.80.
The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 105.90, which will indicate a change in the bullish trend in favor of the bearish trend. Expect the acceleration of USD/JPY quotes growth with the breakdown of the upper border of the bearish channel and the closing above the level of 107.65.
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