Currency pair USD/JPY US Dollar to Japanese Yen ends the trading week near the level of 111.67 and continues to move as part of the correction. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward trend in the dollar yen pair. A test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 110.80. Where should we expect an attempt to rebound and continue the growth of the pair USD/JPY with the goal near the level of 114.95.
Japanese Yen Forecast USD/JPY April 8 — 12, 2019
An additional signal in favor of the pair growth in the current trading week of April 8 — 12, 2019 will be the test of the support level. The second signal will be a rebound from the lower boundary of the rising channel. Earlier, a strong signal was received for BUY the Dollar/Yen pair. The signal was formed due to the intersection of the signal lines at 110.85.
Cancellation of the growth of quotations of the pair will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 109.25. This will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair on Forex. USD/JPY is expected to accelerate the rise in quotes with the breakdown of the resistance area and closing above the level of 112.15.
Japanese Yen Forecast USD/JPY April 8 — 12, 2019 suggests an attempt to develop a correction to the level of 110.80. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 114.95. A test of the support area will be in favor of the climb. Cancellation of the growth of the currency pair will breakdown of the 109.25 area. In this case, we should expect the continuation of the fall.