Currency pair USD/JPY US Dollar to Japanese Yen is trading at 105.64. 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 106.25 level, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 104.80.
Japanese Yen forecast USD/JPY on March 23, 2018
An additional signal in favor of the fall of the pair will be a test of the resistance area. Earlier, a weak signal was obtained for the buy of the Dollar/Yen pair, due to the crossing of signal lines at 106.10.
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 the acceleration of USD/JPY quotes falling with the breakdown of the lower bound of the «Triangle» model and the closing below the level of 105.50.
