Currency pair US Dollar to Japanese Yen USD/JPY is trading at 109.252. 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. It is expected to test the area of signal lines near the level of 110.000, from which it is expected to attempt a fall and further develop the bearish trend near the level of 108.200. An additional signal in favor of a bearish trend is also the resistance area test.
USD/JPY forecast Japanese Yen on June 8, 2017
Previously, a strong signal was received for the sale of the currency pair Dollar/Yen, due to the crossing of the signal lines at the level of 110.990. The cancellation of the fall of the pair quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 111.100, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotations, with the breakdown of the local minimum area at 108.600.
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