The currency pair Japanese Yen USD/JPY is trading at 111.844. The pair is traded inside the Ichimoku Cloud, which indicates the presence of a lateral trend in the US Dollar Yen pair. It is expected to test the lower boundary of the Iсhimoku Cloud near the 110.900 level, from which one should expect another test of the upper boundary of the Cloud near the level of 111.700.
Ichimoku Forecast USD/JPY on April 3, 2017
Earlier, a weak signal was received for purchases of the US dollar pair Yen, due to the crossing of signal lines at the level of 110.700. Consider buying is worthwhile with the breaking of the upper boundary of the Ichimoku Cloud and the closing of quotations above the level of 112.100, in case of breaking through the lower boundary of the Ichimoku Cloud, we should expect the continuation of the downward trend development in USD/JPY.
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