The currency pair US Dollar to Japanese Yen USD/JPY is trading at 112.548. The pair continues to trade above the upper limit of the Ichimoku Cloud, which indicates the presence of an upward trend in the pair US dollar Yen. It is expected to test the upper boundary of the Ichimoku Cloud near the level of 111.900, from which one should expect an attempt of growth and further development of the bullish trend for the pair with the purpose of growth near the level of 113.600.
Ichimoku Kinko Hyo USD/JPY Forecast on May 9, 2017
Earlier, a weak signal was received for purchases of the US dollar pair Yen, due to the intersection of signal lines at the level of 108.770. The cancellation of the variant of growth of quotations of the pair will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotations below the area of 111.500, which will indicate a change in the upward trend in favor of the downward trend. Expect to accelerate the growth of quotations USD/JPY stands with the breakdown of the local maximum area at the level of 113.100.
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