Currency pair USD/JPY US Dollar to Japanese Yen is trading at 113.04. The pair is trading below the lower limit 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 prediction USD/JPY November 23, 2018, a test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 113.25. Where can we expect a rebound and the continuation of the depreciation of the US dollar to the Japanese Yen with a potential target near the level of 111.60.
Japanese Yen prediction USD/JPY November 23, 2018
An additional signal in favor of reducing the pair USD/JPY on FOREX will be the area of resistance test. And also test the upper limit of the downward 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 113.85.
Canceling the option of falling quotations of the pair USD/JPY will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the 113.55 area. This option will indicate a change in the downward trend in favor of the upward trend and continued growth of the pair in the area above the level of 114.25. USD/JPY is expected to accelerate the fall in quotes with the breakdown of the support area and closing below the level of 112.15.
Japanese Yen prediction USD/JPY November 23, 2018 involves an attempt to test the resistance level near the area of 113.25. Where can we expect to continue to reduce the pair with a potential target near the level of 111.60. Cancellation of the fall of the pair will make a strong growth and the breakdown of the area of 113.55. This will indicate continued growth in the dollar against the Japanese Yen.