The currency pair US Dollar to Japanese Yen USD/JPY is trading at 111.06. The pair continues to trade below the lower boundary of the Ichimoku Cloud, which indicates a downward trend in the US dollar pair Yen. The pair tested the upper boundary of the Ichimoku Cloud at 111.30, hence the attempt to fall and develop a bearish trend for this pair with a view to lower near the level of 109.70.
Ichimoku Kinko Hyo forecast USD/JPY on March 31, 2017
Earlier, a weak signal was received for purchases of the US dollar pair Yen, due to the intersection of the signal lines at the level of 110.70. The abolition of the reduction option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 111.90, 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 110.65.
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