USDJPY is trading at 109.04; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 108.45 and then resume moving upwards to reach 113.45. Another signal to confirm further ascending movement is the price’s rebounding from the descending channel’s upside border.
However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 107.85. In this case, the pair may continue falling towards 106.95.
Orgin: RoboForex
