Currency pair US Dollar to Japanese Yen USD/JPY is trading at 110.464. The pair continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bearish trend in the pair Dollar/Yen. USD/JPY is expected to rise to the level of 111,000, from which it is expected to try to fall and further develop the bearish trend with the target of reducing near the level of 109.400.
Japanese Yen forecast USD/JPY on August 1, 2017
Previously, a strong signal was received for the sale of the Dollar/Yen, due to the crossing of the signal lines at 111.40. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 111.700, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotes with a breakdown of the local minimum area at 109.700.
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