Currency pair USD/JPY US Dollar to Japanese Yen is trading at 105.90. 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 106.20 level, from which it is expected to attempt a rebound and continue the fall of the pair with a target near the level of 104.75.
Japanese Yen forecast USD/JPY on March 16, 2018
An additional signal in favor of the growth of the pair is the resistance level test. Earlier, a weak signal was received for the sell of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 106.60.
The cancellation of the fall of the quotes of the pair will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 106.80, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotations with the breakdown of the upper lower bearish channel and the closing below the level of 104.60.
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