Currency pair USD/JPY US Dollar to Japanese Yen is trading at 111.55. The pair moves inside Ichimoku Kinko Hyo Clouds. This indicates the presence of a sideways trend for the Dollar/Yen pair. As part of the FOREX forecast for USD/JPY on April 29, 2019. The test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 111.45. 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 112.45.
Japanese Yen Forecast USD/JPY April 29, 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 112.05.
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 lateral 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 112.25.
Japanese Yen Forecast USD/JPY April 29, 2019 suggests an attempt to test the support level near the area of 111.45. Where can we expect to continue the growth of the pair with a potential goal near the level of 112.45. 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 109.85 area.