Currency pair USD/JPY US Dollar to Japanese Yen is trading at 113/19. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an upward trend for the Yen Dollar pair. As part of the Japanese Yen prediction USD/JPY November 6, 2018, Ichimoku Kinko Hyo signal lines are expected to test near the level of 112.95. 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 114.05.
Japanese Yen prediction USD/JPY November 6, 2018
An additional signal in favor of the growth of the USD/JPY pair on FOREX will be a test of the support area, as well as a rebound from the lower border of the «Triangle» model. Earlier, a weak signal was received for BUY the Dollar/Yen pair, due to the intersection of signal lines at the level of 112.10.
Cancellation of the growth option of the USD/JPY pair quotes will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the close of quotes below the 112.15 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 111.25. USD/JPY is expected to accelerate the growth of quotations with the breakdown of the upper limit of the «Triangle» model and closing above 113.45.
Japanese Yen prediction USD/JPY November 6, 2018 implies an attempt to test the support level near the 112.95 area, from where we can expect the pair to continue to grow with a potential target near the 114.05 level. Cancellation of the growth of the pair will make the fall and the breakdown of 112.15, indicating that the dollar will continue to fall against the Japanese Yen.