The currency pair US Dollar to Japanese Yen USD/JPY is trading at 110.461. The pair is trading below the lower limit of the Ichimoku Cloud, which indicates a downward trend in the US Dollar Yen pair. A test of the area of signal lines near the level of 110.800 is expected, from which one should expect an attempt to fall and develop a bearish tendency for the pair with a view to lower near the level of 109.500.
Ichimoku Kinko Hyo USD/JPY Forecast on April 7, 2017
Earlier, a signal of medium strength was received for the sale of the US dollar pair Yen, due to the intersection of the signal lines at the level of 111.200. 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 111.600, 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 the level of 110.000.
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