Currency pair USD/JPY US Dollar to Japanese Yen is trading at 111.89. The pair moves above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of an bullish trend in the dollar/yen pair. As part of the Forex forecast for USD/JPY on April 24, 2019. A test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 111.70. Where can we expect a rebound and the continued growth of the US dollar to the Japanese Yen with a potential target near the level of 113.85.
Japanese Yen Forecast USD/JPY April 24, 2019
An additional signal in favor of the growth of the USD/JPY pair on FOREX will be the support area test. The second signal will be a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for SELL the Dollar/Yen pair. The signal was formed due to the intersection of signal lines at the level of 111.90.
Cancellation of the growth of quotations of the pair USD/JPY will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 111.20 area. This option will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair in the area below the level of 109.85. USD/JPY is expected to accelerate the growth of quotes with the breakdown of the resistance area and closing above the level of 112.45.
Japanese Yen Forecast USD/JPY April 24, 2019 suggests an attempt to test the support level near the area of 111.70. Where can we expect the pair to continue to grow with a potential target near the level of 113.85. Cancellation of the option of raising the pair will fall and the breakdown of the area 111.20. This will indicate a continued depreciation of the Dollar against the Japanese Yen with a target below the area of 109.75.