Currency pair US Dollar to Japanese Yen USD/JPY is trading at 109.628. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen. It is expected to test the area of signal lines near the level of 110.200, from which one should expect an attempt to fall and further develop the bearish trend near the level of 108.500.
USD/JPY forecast Japanese Yen on June 7, 2017
Previously, a strong signal was received for the sale of the Dollar/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 111.700, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotations is with the breakdown of the local minimum area at the level of 108.900.
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