Currency pair USD/JPY US Dollar to Japanese Yen ends the trading week near the level of 113.16 and continues to move within the ascending channel. 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. Ichimoku Kinko Hyo Cloud upper test is expected to be near the level of 112.95, from where it is worth expecting an attempt to rebound and continue the growth of the USD/JPY pair with a target near the level of 115.35.
Japanese Yen forecast USD/JPY November 5 — 9, 2018
An additional signal in favor of the pair’s growth in the current trading week on November 5 — 9, 2018 will be the test of the support level. Previously, a weak signal was received for SELL the Dollar/Yen pair, due to the crossing of signal lines at 112.75.
Cancellation of the growth of quotations of the pair will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 111.65, which will indicate a change in the upward trend in favor of the downward trend and the continuation of the pair falling on Forex. USD/JPY is expected to accelerate the growth of quotes with the breakdown of the resistance area and closing above the level of 113.05.
Japanese Yen forecast USD/JPY November 5 — 9, 2018 suggests an attempt to develop a correction to the level of 112.95, from which a rebound can be expected and the pair will continue to grow with a potential target near the 115.35 level, the support area test will be in favor of lifting the currency pair will break down the area of 111.65, in this case we should expect the continuation of the fall.