Currency pair US Dollar to Japanese Yen USD/JPY is trading at 110.960. The pair continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a downward trend in the pair USD/JPY. Ichimoku Kinko Hyo Cloud near the level 111.300 is expected to test the lower boundary, from which one should expect a fall attempt and further development of the bearish trend near the level of 110.000.
USD/JPY prediction & technical analysis May 31, 2017
Earlier, a strong signal was received for the sale of the pair USD/JPY, due to the crossing of signal lines at 111.463. Cancellation of the fall of the pair quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 111.500, 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 110.200.
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