Currency pair US Dollar to Japanese Yen USD/JPY is trading at 110.200. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen pair. The currency pair USD/JPY is expected to rise near the 110.500 level, from which it is expected to attempt a fall and further develop the bearish trend near the level of 108.700.
USD/JPY forecast Japanese Yen on June 9, 2017
An additional signal in favor of a bearish trend is also the resistance area test. Previously, a strong signal was received for the sale of the US dollar pair 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 quotes above the area of 110.700, 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 a breakdown of the local minimum area at 109.000.
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