Currency pair US Dollar to Japanese Yen USD/JPY is trading at 111.169. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in the Dollar/Yen. A test of the area of signal lines near the 110.700 level is expected, from which one should expect an attempt of growth and further development of the bullish trend with the target of growth near the 112.500 level.
USD/JPY forecast Japanese Yen on June 22, 2017
Earlier, a weak signal was received for purchases of the Dollar/Yen, due to the crossing of signal lines at 109.900. The cancellation of the growth of the quotations of the pair will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 109.900, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations USD/JPY stands with the breakdown of the local maximum area at the level of 112.200.
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