Currency pair USD/JPY US Dollar to Japanese Yen is trading at 112.69. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an upward trend for the Dollar/Yen pair. As part of the Japanese Yen prediction USD/JPY October 31, 2018, the upper limit of the Ichimoku Kinko Hyo Cloud is expected to be near the 112.35 level, from which we can expect a rebound and continued growth of the US Dollar against the Japanese Yen with a potential target near the level of 113.65.
Japanese Yen prediction USD/JPY October 31, 2018
An additional signal in favor of the growth of the pair USD/JPY on FOREX will be the test of the support area. Earlier, a weak signal was received for BUY the Dollar/Yen pair, due to the crossing of signal lines at the level of 112.10.
Cancellation of the growth of 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 below the area of 112.00, which will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair to the level below 111.25. USD/JPY is expected to accelerate the growth of quotations with the breakdown of the upper boundary of the downward channel and closing above the level of 113.05.
Japanese Yen prediction USD/JPY October 31, 2018 implies an attempt to test the support level near the 112.35 area, from where we can expect the pair to continue to grow with a potential target near the 113.65 level, a fall will cancel the growth option of the pair and a breakdown of the 111.25 area will indicate on the continuation of the fall of the dollar against the Japanese Yen.