Currency pair USD/JPY US Dollar to Japanese Yen is trading at 106.76. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the Dollar/Yen pair. Ichimoku Kinko Hyo signal line area test is near the level of 106.40, from which it is expected to attempt a rebound and continue the growth of the pair with the target near the level of 107.70.
USD/JPY forecast Japanese Yen April 5, 2018
An additional signal in favor of the growth of the pair will be the test of the upper boundary of the bearish channel. Previously, a strong signal was received for the purchases of the Dollar /Yen pair, due to the crossing of the signal lines at 106.15.
The cancellation of the growth of the pair’s quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the 105.50 area, which will indicate a change in the bullish trend in favor of the bearish trend. Expect the acceleration of USD/JPY quotes growth with the breakdown of the resistance area and the closing above the level of 106.80.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
