The currency pair US Dollar Japanese Yen USD/JPY pair closed the trading week at 111.25. The pair continues to trade below the lower boundary of the Ichimoku Cloud, which indicates a downward trend in the US dollar pair Yen. It is expected to test the lower boundary of the Ichimoku Cloud near the level of 113.55, from which one should expect an attempt to fall and develop a bearish trend for this pair with the aim of dropping the level of 107.50.
Ichimoku forecast USD/JPY on March 27 — 31, 2017
Previously, a strong signal was received for the sale of the US Dollar Yen pair, due to the intersection of signal lines at 112.90. The cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 115.50, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in USD JPY quotes with a breakdown of the local minimum area at 109.70.
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