Currency pair USD/JPY Dollar Yen closes the trading week near the level of 111.84. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in the pair of Dollar/Yen. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 111.05, from which one should expect a rebound and the development of the bullish trend for the pair USD/JPY with the target of growth near the level of 114.80.
Dollar Yen forecast USD/JPY on October 16 — 20, 2017
An additional signal in favor of the growth of the pair will test the level of support. Earlier, a weak signal was obtained for the buy of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 109.90. The cancellation of the growth of the quotes of the pair will be the breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 109.80, which will indicate a change in the bullish trend in favor of the bearish trend. Expect the acceleration of USD/JPY quotes growth with a breakdown of resistance level and closing above 113.50.
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