USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 106.46; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 106.65 and then resume moving downwards to reach 105.65. 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 107.15. In this case, the pair may continue growing towards 108.05.
Orgin: RoboForex
