Japanese Yen forecast USD/JPY on February 7, 2018

7 February 2018, 06:49
Jatin Patel
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Currency pair USD/JPY US Dollar to Japanese Yen is trading at 109.26. The pair is trading inside the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for the Dollar/Yen pair. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the 109.75 level, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 107.75.


Japanese Yen forecast USD/JPY on February 7, 2018


Earlier, a medium strength signal was received for the sell of the Dollar/Yen pair, by crossing the signal lines at 109.30. The cancellation of the fall of the pair’s quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of ​​110.25, indicating a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotes with the breakdown of the lower boundary of the indicator Cloud and the closing below the area of ​​108.45.

Summary : SELL USD/JPY

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