Currency pair USD/JPY US Dollar to Japanese Yen is trading at 112.79. The pair is trading inside the Ichimoku Kinko Hyo Cloud, which indicates the presence of a side trend for the Yen Dollar pair. As part of the USD/JPY forecast Japanese Yen October 24, 2018, Ichimoku Kinko Hyo signal lines are expected to test near the level of 112.45, where a rebound is expected and the US dollar will continue to rise against the Japanese Yen with a potential target near the level of 113.80.
USD/JPY forecast Japanese Yen October 24, 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 of the Dollar Yen pair, due to the intersection of signal lines at the level of 112.05.
Cancellation of the growth of quotations of the pair USD/JPY will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 112.00, which indicates a change in the side trend in favor of the downward trend and the continuation of the fall of the pair to the area below 111.45. USD/JPY is expected to accelerate the growth of quotations with the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and closing above the level of 113.15.
USD/JPY forecast Japanese Yen October 24, 2018 suggests an attempt to test the support level near the area of 112.45, from where we can expect the pair to continue to grow with a potential target near the level of 113.80, the fall in the growth option of the pair will be canceled and the area will break through 112.00, which will indicate on the continuation of the depreciation of the dollar against the Japanese Yen.