The currency pair US Dollar to Japanese Yen USD/JPY is trading at 111.361. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Dollar/Yen pair. Ichimoku Kinko Hyo Cloud is expected to test near the 111.600 level, from which it is expected to try to fall and further develop the bearish trend with a view to lower near the level of 109.800.
Japanese Yen forecast USD/JPY on July 28, 2017
Earlier, we received a weak signal for buying of the pair Dollar/Yen, due to the crossing of the signal lines at 111.49. The cancellation of the fall of the pair’s quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 112.100, which will indicate a change in the bearish trend in favor of the upside. Expect to accelerate the fall in USD/JPY quotes with a breakdown of the local minimum area at 110.300.