Currency pair USD/JPY US Dollar to Japanese Yen ends the trading week near the level of 110.11 and continues to move within 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 109.85. Where should we expect an attempt to rebound and continue the growth of the pair USD/JPY with the goal near the level of 114.15.
Japanese Yen Forecast USD/JPY March 25 — 29, 2019
An additional signal in favor of the growth of the pair in the current trading week of March 25 — 29, 2019 will be the test of the support level. 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 111.35.
Cancellation of the growth option 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 108.75. 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. Expect acceleration of the USD/JPY quotes growth with the breakdown of the resistance area and closing above the level of 112.25.
Japanese Yen Forecast USD/JPY March 25 — 29, 2019 suggests an attempt to develop a correction to the level of 109.85. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 114.15. A test of the support area will be in favor of the climb. Cancellation of the growth of the currency pair will be a breakdown of the area of 108.75. In this case, we should expect the continuation of the fall.