Currency pair USD/JPY US Dollar to Japanese Yen is trading at 105.43. 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 105.60 level, from which it is expected to attempt a rebound and continue falling of the pair with the target near the level of 103.95.
Japanese Yen forecast USD/JPY on March 29, 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. Previously, a strong signal was received for the sell of the Dollar/Yen pair, due to the crossing of the signal lines at 106.15.
The cancellation of the fall of the pair’s quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 106.20, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotes is with the breakdown of the support area and the closing below the level of 104.50.