Currency pair USD/JPY US Dollar to Japanese Yen is trading at 112.71. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in the Dollar/Yen pair. Ichimoku Kinko Hyo indicator cloud is expected near the 112.65 level, 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 6, 2017
An additional signal in favor of the growth of the pair will be a test of the lower boundary of the bullish channel. Earlier, a strong signal was received for the buy of the Dollar/Yen pair, due to the crossing of the signal lines at 112.00. The cancellation of the growth of the pair’s quotations 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, which will indicate a shift in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations USD/JPY is with the breakdown of the level of 114.40.