Currency pair US Dollar to Japanese Yen USD/JPY is trading at 110.554. The pair continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bearish trend in the pair Dollar/Yen. The currency pair USD/JPY is expected to rise near the 110.950 level, from which it is expected to attempt a fall and further develop the bearish trend near the level of 109.600.
Forecast Japanese Yen to US Dollar on June 6, 2017
Earlier, we received a weak signal for buying of the pair Dollar/Yen, due to the crossing of the signal lines at the level of 110.990. 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 111.600, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotes with a breakdown of the local minimum area at 109.900.
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