Currency pair USD/JPY completes trading week at 109.078. 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. USD/JPY is expected to rise to the level of 110.500, from which one should expect an attempt to fall and develop a bearish trend for the pair USD/JPY with a view to lower near the level of 106.600.
USD/JPY weekly forecast on August 21 — 25, 2017
Earlier, a weak signal was received for the sale of the Dollar/Yen, due to the crossing of signal lines at 112.570. 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 quotations above the 112.000 area, which indicates 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 107.200.
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