Currency pair USD/JPY US Dollar to Japanese Yen is trading at 112.60. The pair is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend for the Dollar/Yen pair. The test of the lower boundary of the Ichimoku Kinko Hyo indicator cloud is expected near the level 112.45, from which one should expect an attempt of growth and further development of the bullish trend with the target near the level of 114.20.
Japanese Yen forecast USD/JPY on October 11, 2017
Previously, a strong signal was received for the buy of the Dollar/Yen pair, due to the crossing of the signal lines at 112.70. The cancellation of the growth of the quotations of the pair will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 111.90, indicating a change in the flat trend in favor of a bearish trend. Expect the acceleration of USD/JPY quotes growth with a breakdown of the resistance level and a close above the area of 113.70.
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