Currency pair US Dollar to Japanese Yen USD/JPY is trading at 111.041. 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. Ichimoku Kinko Hyo Cloud near the level 111.300 is expected to test the lower boundary, from which one should expect a fall attempt and further development of the bearish trend near the level of 110.100.
USD/JPY forecast Japanese Yen on June 2, 2017
Earlier, a strong signal was received for the sale of the currency pair US Dollar to Japanese Yen, due to the crossing of signal lines at 111.463. 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 111.600, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotes, with the breakdown of the local minimum area at 110.400.
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