The currency pair US Dollar to Japanese Yen USD/JPY completes the trading week at the level of 111.503. The pair continues to trade below the lower boundary of the Ichimoku Cloud, which indicates a downward trend in the US dollar pair Yen. The test of the lower boundary of the Ichimoku Cloud near the level 112.400 is expected, from which one should expect a fall attempt and further development of the bearish trend for the pair with a view to lower near the level of 109.700.
Ichimoku Kinko Hyo USD/JPY Forecast May 1 — 5, 2017
Earlier, a weak signal was received for purchases of the US dollar pair Yen, due to the intersection of signal lines at 113.500. The abolition of the decline option will be the breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 113.500, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in USD/JPY quotations with a breakdown of the local minimum area at 110.900.
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