Currency pair USD/JPY US Dollar to Japanese Yen is trading at 111.69. The pair moves above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward trend in the dollar yen pair. As part of the Japanese Yen Forecast USD/JPY March 8, 2019. A test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 111.35. 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 113.15.
Japanese Yen Forecast USD/JPY March 8, 2019
An additional signal in favor of the growth of the USD/JPY pair on FOREX will be the support area test. As well as 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 110.80.
Cancellation of the growth rate of the USD/JPY pair quotes will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 110.90 area. This option will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair in the area below the level of 109.55. USD/JPY is expected to accelerate the growth of quotes with the breakdown of the resistance area and closing above the level of 112.35.
Japanese Yen Forecast USD/JPY March 8, 2019 implies an attempt to test the support level near the area of 111.35. Where can we expect to continue the growth of the pair with a potential goal near the level of 113.15. Cancellation of the growth of the pair will make the fall and the breakdown of 110.90. This will indicate a continued depreciation of the Dollar against the Japanese Yen with a target above the area of 109.75.