Currency pair USD/JPY US Dollar to Japanese Yen is trading at 113.71. The pair is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend for the Dollar/Yen pair. The test of the lower boundary of Ichimoku Kinko Hyo Cloud is expected near the level of 113.05, from which one should expect a rebound attempt and further development of the bullish trend with the target near the level of 113.90. An additional signal in favor of growth will test the level of support.
Japanese Yen forecast USD/JPY on November 1, 2017
Earlier, a weak signal was received for the sell of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 113.75. The cancellation of the growth of the quotations of the pair will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 112.80, which will indicate a change in the flat trend in favor of the bearish trend. Expect to accelerate the growth of USD/JPY quotations with a breakdown of the upper Ichimoku Kinko Hyo Cloud level and a close above 114.05.
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