Currency pair USD/JPY US Dollar to Japanese Yen is trading at 112.69. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen pair. The test area of Ichimoku Kinko Hyo signal lines is near the level of 113.20, from which it is expected to attempt a rebound and continue the development of the downward trend with the target of falling near the level of 111.70.
Japanese Yen forecast USD/JPY on November 16, 2017
Previously, a strong signal was received for the sale of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 113.55. 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 quotes above the area of 114.10, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the USD/JPY quotes falling with the level breakdown at 112.40.
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