The currency pair US Dollar to Japanese Yen USD/JPY is trading at 112.894. The pair continues to trade above the upper limit of the Ichimoku Cloud, which indicates the presence of an upward trend in the pair US dollar Yen. A test of the area of signal lines near the level of 111.800 is expected, from which one should expect an attempt of growth and further development of the bullish tendency for a pair with the purpose of growth near the level of 114.100.
Ichimoku Kinko Hyo USD/JPY Forecast on May 5, 2017
Earlier, a weak signal was received for purchases of the US dollar to Yen, due to the intersection of signal lines at the level of 108.770. The cancellation of the growth option will be the breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotations below the area of 110.400, 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 113.200.
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