Currency pair USD/JPY US Dollar to Japanese Yen is trading at 111.03. The pair moves below the gentle boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend in the dollar yen pair. As part of the Japanese Yen Forecast USD/JPY March 15, 2019. A test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 111.30. Where can we expect a rebound and the continuation of the fall of the US Dollar to Japanese Yen with a potential target near the level of 109.95.
Japanese Yen Forecast USD/JPY March 15, 2019
An additional signal in favor of reducing the pair USD/JPY on FOREX will be the area of resistance 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 111.70.
Canceling the option of falling quotations of the pair USD/JPY will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the 111.55 area. This option will indicate a change in the downward trend in favor of the upward trend and the continued growth of the pair in the area above the level of 112.95. Expect to accelerate the fall in USD/JPY quotes with the breakdown of the support area and closing below 110.75.
Japanese Yen Forecast USD/JPY March 15, 2019 involves an attempt to test the resistance level near the area of 111.30. Where can we expect to continue the fall of the pair with a potential target near the level of 109.95. Cancellation of the option to reduce the pair will make a strong growth and a breakdown of the 111.55 area. This will indicate a continuation of the rise of the Dollar against the Japanese Yen with a target above the 112.95 area.