USDJPY is trading at 107.32; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 107.65 and then resume moving downwards to reach 106.65. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border.
However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 108.55. In this case, the pair may continue growing towards 109.75.
Orgin: RoboForex
