Currency pair USD/JPY completes the trading week at the level of 110.065. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Dollar/Yen. Ichimoku Kinko Hyo Cloud is expected to test near the level of 111.000, from which one should expect an attempt to drop and develop a bearish trend for the pair USD/JPY with a target to lower near the level of 107.500.
USD/JPY weekly forecast on September 4 — 8, 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 area of 112.300, which will indicate a change in the bearish trend in favor of the bullish. Expect to accelerate the fall in USD/JPY quotations with a breakdown of the local minimum area at 108.000.