The USD/JPY trades at 105.99 and keeps moving within the falling and descending channels. USD/JPY is moving below the lower boundary of Ichimoku Kinko Hyo Cloud. This indicates that the USD/JPY is in a bearish trend. Within the Forex forecast of USD/JPY for May 7, 2020 the correction and upper boundary test of Ichimoku Kinko Hyo indicator clouds near the level of 106.65 are expected to develop.

USD/JPY, 30 min

Pivot: 106.19