The Currency pair US Dollar to Japanese USD/JPY completes trading month at 111.234. The pair is trading near the upper boundary of the Ichimoku Cloud. Exit from the Ichimoku Cloud zone near the 112.900 level is expected, followed by a test of the upper boundary of the Ichimoku cloud at 110.500, from which one should expect an attempt of growth and further development of the bullish trend for the pair with a target of growth near the level of 118.600.
Ichimoku Kinko Hyo Forecast USD/JPY for May 2017
Earlier, a weak signal was received for purchases of the US dollar pair Yen, due to the intersection of signal lines at 105.360. Cancellation of the growth option will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotations below the 105.100 area, which will indicate a shift in the upward trend in favor of a downward trend. Expect to accelerate the growth of quotations USD/JPY is with the breakdown of the local maximum area at the level of 115.500.
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