Dollar-Yen May Drop to Record on Ichimoku: Technical Analysis
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The dollar may fall back toward the postwar record low it reached against the yen in March, according to Mizuho Corporate Bank Ltd., citing chart patterns.
The U.S. currency has traded below its conversion line on an ichimoku chart on most days since April 13 and yesterday fell below the measure’s so-called cloud. The first leading-span line, or the top of the cloud, was at 81.60 yen and will rise to 83.03 yen in the coming weeks, while the second leading-span line remains below 81 yen.