Currency pair US Dollar to Japanese Yen USD/JPY is trading at 111.257. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the pair US Dollar to Japanese Yen USD/JPY. A test of the area of signal lines near the level of 111.800 is expected, from which one should expect an attempt of a fall and further development of the bearish tendency for a pair with the target of decreasing near the level 109.200.
USD/JPY prediction Japanese Yen on May 23, 2017
Earlier, a weak signal was received for the sale of the US Dollar to Japanese Yen USD/JPY, due to the crossing of the signal lines at the level of 113.640. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 112.700, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in US Dollar to Japanese Yen USD/JPY with a breakdown of the local minimum area at 109.700.
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