Currency pair USD/JPY US Dollar to Japanese Yen completes the trading week near the level of 106.27. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen pair. Ichimoku Kinko Hyo Cloud is expected to test near the 107.10 level, from which it is expected to attempt a rebound and continue the fall of the pair USD/JPY with the target near the level of 102.70.
Japanese Yen forecast USD/JPY April 2 — 6, 2018
An additional signal in favor of the fall of the pair will be a test of the upper boundary of the channel, as well as a resistance level test. Earlier, a medium strength signal was received for the sell of the Dollar/Yen pair, by crossing the signal lines at 112.40.
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 109.50, indicating 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 104.25.