Currency pair USD/JPY US Dollar to Japanese Yen is trading at 112.62. 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 expected near the 112.95 level, 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 111.20.
Japanese Yen forecast USD/JPY on November 22, 2017
An additional signal in favor of the pair’s sales will be a test of the upper boundary of the bearish channel. Previously, a strong signal was received for the sell of the Dollar/Yen pair, due to the intersection of the signal lines at the level of 113.55. The 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 quotes above the area of 113.45, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotations with a breakdown of level 111.90.
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