Currency pair US Dollar to Japanese Yen USD/JPY is trading at 113.744. The pair continues to trade above the upper limit of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an upward trend in the pair US dollar Yen. It is expected to test the area of signal lines near the level of 113.300, 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 115.000.
Technical analysis & USD/JPY prediction on May 11, 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 108.770. 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 112.100, 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 114.400.
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