Currency pair USD/JPY completes the trading week at 110.585. The pair is traded within the Ichimoku Kinko Hyo Cloud, which indicates a sideways trend for the Dollar/Yen pair. USD/JPY is expected to drop to 110.100 level, then Ichimoku Kinko Hyo cloud bottom test near level 111.200, from which it is expected to try to fall and develop the bearish trend for the pair USD/JPY with the target to decrease near the level of 108.400.
Dollar Yen forecast USD/JPY on July 31 — August 4, 2017
Earlier, a weak signal was received for the sale of the Dollar/Yen, due to the crossing of signal lines at 112.570. 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 112.900 area, which will indicate a change in the bearish trend in favor of the bullish. Expect to accelerate the fall in USD/JPY quotations with a breakdown of the local minimum area at 109.300.
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