The currency pair US Dollar to Japanese Yen USD/JPY completes trading week at 112.666. The pair is trading inside the Ichimoku Cloud, which indicates the presence of a lateral trend in the US Dollar Yen pair. The Ichimoku Cloud is expected to break into 114.400, from where the test of the upper boundary of the Ichimoku Cloud near the level of 112.900 will follow, from which one should expect an attempt of growth and further development of the bullish tendency for the pair with a target of growth near the level of 116.600.
Ichimoku Kinko Hyo USD/JPY Forecast May 8 — 12, 2017
Earlier, a weak signal was received for purchases of the US dollar pair Yen, due to the intersection of signal lines at the level of 110.200. The cancellation of the growth option will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotations below the area of 109.400, which will indicate a shift in the upward trend in favor of the 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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