The currency pair US Dollar to Japanese Yen USD/JPY is trading at 112.190. The pair is trading above the upper limit of the Ichimoku Cloud, indicating that there is an upward trend in the pair US Dollar Yen. It is expected to test the area of signal lines near the level of 111.500, from which one should expect an attempt at growth and further development of the bullish trend for the pair with a target of growth near the level of 112.800.
Ichimoku Kinko Hyo USD/JPY Forecast on May 3, 2017
Earlier, we received a weak signal for purchases of the pair US dollar Yen, due to the intersection of signal lines at the level of 108.770. Cancellation of the growth option will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotes below the area of 109.900, which will indicate a shift in the upward trend in favor of a downward trend. Expect to accelerate the growth of quotations USD/JPY is with the breakdown of the local maximum area at 112.300.
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