Currency pair US Dollar to Japanese Yen USD/JPY is trading at the level of 111.992. 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. The pair USD/JPY is expected to rise to the level of 112.500, from which it is expected to try to fall and further develop the bearish trend with a target to lower near the level of 110.500.
USD/JPY forecast Japanese Yen on July 20, 2017
Earlier, a weak signal was received for the sale of the Dollar/Yen, due to the crossing of signal lines at 113.68. 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 113.500, which will indicate a change in the bearish trend in favor of the bullish. Expect to accelerate the fall in USD/JPY quotations with a breakdown of the local minimum area at 110.900.
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