Currency pair USD/JPY US Dollar to Japanese Yen is trading at 111.38. 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 111.40, from which it is expected to attempt a rebound and continue the development of a bearish trend with a target to falling near the level of 109.90.
Japanese Yen forecast USD/JPY on November 30, 2017
An additional signal in favor of the fall of the pair is the test of the upper boundary of the bearish channel. Previously, a strong signal was received for the sale 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’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 112.45, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall of USD/JPY quotations is with the breakdown of the level of 110.60.
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