Currency pair US Dollar to Japanese Yen USD/JPY is trading at 110.415. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen. The currency pair USD/JPY is expected to rise near the level of 111.000, from which it is expected to attempt a fall and further develop the bearish trend near the level of 109.800.
USD/JPY forecast Japanese Yen June 5, 2017
Earlier, we received a weak signal for buying of the pair US Dollar to Japanese Yen, due to the crossing of the signal lines at the level of 110.990. 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 a breakdown of the local minimum area at the level of 110.000.
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