Currency pair USD/JPY US Dollar to Japanese Yen ends the trading week near the level of 111.44 and continues to move in the framework of growth. 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 Ichimoku Kinko Hyo signal line region is expected near the level of 110.95. Where should we expect an attempt to rebound and continue the growth of the pair USD/JPY with the goal near the level of 114.90.
Japanese Yen Forecast USD/JPY March 18 — 22, 2019
An additional signal in favor of the pair growth in the current trading week of March 18 — 22, 2019 will be the test of the support level. As well as a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for BUY the Dollar/Yen pair. The signal was formed due to the intersection of signal lines at the level of 109.35.
Cancellation of the growth rate of the pair quotes will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 108.95. 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 112.35.
Japanese Yen Forecast USD/JPY March 18 — 22, 2019 suggests an attempt to develop a correction to the level of 110.95. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 114.90. A test of the support area will be in favor of the climb. The cancellation of the growth of the currency pair will be the breakdown of the area of 108.95. In this case, we should expect the continuation of the fall.