Currency pair USD/JPY US Dollar to Japanese Yen is trading at 106.81. 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 level of 107.05, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 105.30. An additional signal in favor of reducing the pair will be the upper bound test of the «Triangle» model.
Japanese Yen forecast USD/JPY on March 2, 2018
Earlier, a medium strength signal was received for buy of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 107.05. Cancellation of the fall of the pair quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 107.45, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall of USD/JPY quotes with the breakdown of the lower bound of the «Triangle» model and the closing below the level of 106.25.
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