Currency pair USD/JPY US Dollar to Japanese Yen is trading at 105.58. 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 signal line area test is near the level of 105.85, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 104.00.
Japanese Yen forecast USD/JPY on March 6, 2018
An additional signal in favor of the pair’s decline is the resistance level test. Earlier, the signal was a strong signal 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 fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 107.25, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of USD/JPY quotations falling with the breakdown of the support area and the closing below the level of 105.15.
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